Bitcoin (BTC ($104,817.79)) rose above $106,000 following the FED interest rate decision announced on Wednesday and the statements of FED Chairman Jerome Powell.
Following 25 basis point cuts in November and December, the Fed left interest rates unchanged in January.
While it remains uncertain when the FED will cut interest rates in 2025, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, has been announced.
Accordingly, personal consumption expenditures data for December were as follows:
Core Personal Consumption Expenditure Price Index (YoY) Announced 2.8%– Expected 2.8% – Previous 2.8%
Core Personal Consumption Expenditure Price Index (Monthly) Announced 0.2% – Expected 0.2%– Previous 0.1%
Personal Consumption Expenditure Price Index (Annual) Announced 2.6%– Expected 2.6%– Previous 2.4%
Personal Consumption Expenditure Price Index (Monthly) Announced 0.3% – Expected 0.3% – Previous 0.1%
What Was Bitcoin (BTC)’s First Reaction?
*This is not investment advice.
Continue Reading: BREAKING: The PCE Data Used by the FED to Measure Inflation Has Been Announced! Here is Bitcoin’s (BTC) First Reaction!
