Powell Highlights Tariffs’ Impact on Inflation
Main Idea
Federal Reserve Chairman Jerome Powell highlights the impact of tariffs on inflation, with cryptocurrencies expected to remain volatile amid current economic indicators.
Key Points
1. Federal Reserve Chairman Jerome Powell emphasized the relationship between tariffs and inflation.
2. The Federal Reserve's decision on interest rate cuts is influenced by inflation now exceeding 17%.
3. Cryptocurrencies are expected to remain volatile in the current economic climate.
4. U.S. CPI was announced at 2.7% (expectation: 2.8%, previous: 2.7%) and Core CPI at 3.1% (expectation: 3%, previous: 2.9%).
5. Monthly Core PPI rose by 0.3%, aligning with expectations, while headline inflation grew by 0.2% monthly.
6. Bitcoin recovered to $119,000 following the inflation report.
Description
Powell frequently discusses tariffs' inflation impacts, stressing their importance. July's inflation slightly exceeded predictions, influencing interest rate expectations. Continue Reading: Powell Highlights Tariffs’ Impact on Inflation The post Powell Highlights Tariffs’ Impact on Inflation appeared first on COINTURK NEWS .
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