Just now, the BLS released the latest inflation data and things are looking good for the U.S. economy.
According to the US Bureau of Labor Statistics (BLS), the annual inflation rate, reflected by the Consumer Price Index (CPI), fell to 2.4% in September, down from 2.5% in August.
As analysts anticipate the upcoming CPI data and the Federal Reserve’s interest rate decision in November, today’s release of key inflation figures has drawn significant attention from the Fed, as these metrics will influence its rate-setting choices.
In the meantime, Bitcoin was struggling to maintain its price above $60,000 amid significant selling pressure. Currently BTC is priced at $61,000.
An influential Ethereum trader who previously made a fortune is now predicting an astonishing 9000% rise for a meme coin priced at just $0.0006.
Financial educator and author Robert Kiyosaki has raised alarms about the state of the U.S. economy, warning that the nation, despite its status as the largest global economy with a GDP of around $29 trillion, is on a downward path.
The cryptocurrency landscape, particularly Bitcoin, tends to respond to significant economic indicators from the U.S. as traders adapt their strategies to align with macroeconomic trends.
One of the most important U.S. economic metrics, the jobs report, was just released by the Bureau of Labor Statistics.