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Inflation Increases 2.5%, Setting Scene for Rate Cut

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Market Update, September 13th 2024

Takeaways
  1. Inflation stays under control: The Consumer Price Index increased 2.5% in August compared to the previous year, down from the 2.9% bump in July. The latest data indicates the Federal Reserve will likely cut interest rates by 25 basis points next week.
  2. Bankrupt crypto exchange FTX has reached a $14 million settlement with Emergent Technologies, resolving a dispute over 55 million Robinhood shares: The agreement avoids further legal action and allows Emergent to finalize its bankruptcy proceedings.
  3. US spot bitcoin ETFs have seen a streak of daily net outflows, with nearly $1.2 billion withdrawn in just eight days: The downturn coincides with broader market volatility.
  4. The North Carolina Senate has passed a bill prohibiting state participation in any Federal Reserve-sponsored CBDC testing: The bill bans payments to the state using a CBDC. It passed despite a veto by Governor Roy Cooper.


🕰️ Topic of the Week: Understanding Interest Rates

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bitcoinpriceCPIcryptolevelsFTXGEMINIgusdhedgeinflationrobinhoodTrend Analysis
Gemini
Aussi sur:

Clause de non-responsabilité

Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.