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.
Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a bold prediction on silver, calling it the “best asymmetric buy” currently available.
Fresh data on Personal Consumption Expenditures (PCE) — the Federal Reserve’s preferred inflation gauge — shows inflation ticked higher in May, potentially delaying the long-awaited Fed rate cut into September or later.
Federal Reserve Chair Jerome Powell is once again under fire, this time facing renewed criticism from Donald Trump over the Fed’s decision to hold interest rates steady in June.
Billionaire investor Ray Dalio has sounded the alarm over America’s soaring national debt, warning of a looming economic crisis if no action is taken.