Core

US Core Personal Consumption Expenditures (PCE) data, which is the economic data preferred by the FED to measure inflation in the US, has been announced. 
US Core Personal Consumption Expenditures (PCE) Price Index 3.2% YoY (Expected: 3.4%, Previous: 3.5%) 
US Core Personal Consumption Expenditures (PCE) Price Index 0.1% Monthly (Expected: 0.2%, Previous: 0.2%) 
Bitcoin's reaction after the announced data was as follows: 
<img decoding="async" class="alignnone size-full wp-image-129905" src="https://www.bitcoinsistemi.com/wp-content/uploads/2023/12/BTCUSD_2023-12-22_16-31-49.png" alt="" width="1342" height="792"> 
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Traders are currently pricing the probability of a U.S. rate cut by March at 83%, according to the CME FedWatch tool. 
Fed officials have opposed the idea of rapid rate cuts next year, but those statements have done little to change investor sentiment. 
Bloomberg Economics predicted that November core PCE could reach 2% on a six-month annual basis, which would be a significant step towards bringing annual price growth back to the Fed's 2% target. The final third-quarter gross domestic product estimate released Thursday showed core PCE growth slowed to 2% year-on-year last quarter, the slowest quarterly growth rate since 2020. 
Still, Fed officials continue to believe it will take until 2026 for core PCE inflation to return to 2% sustainably, according to a summary of economic projections released at last week's meeting of the Federal Open Market Committee. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-feds-preferred-inflation-data-released-here-is-bitcoins-first-reaction/">BREAKING: FED’s Preferred Inflation Data Released! Here is Bitcoin’s First Reaction</a>

BREAKING: FED’s Preferred Inflation Data Released! Here is Bitcoin’s First Reaction

Bitcoin Sistemi EN

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