Annual inflation in the U.S. has dropped for nine consecutive months following the nine times the Fed has raised the benchmark interest rate. Economics
The Fed has increased the federal funds rate nine times in a row, to a total of 475-500 basis points. The latest data indicates that inflation has dropped significantly since last year in the U.S., but it is still far from reaching the Fed’s stated goal of 2%. After the CPI report was published, the global crypto economy’s total market capitalization jumped to $1.23 trillion. It had dropped a few percentage points on the night of April 11, 2023, at 10:45 p.m. Eastern Time.
currently indicates a 67.5% chance that the Fed will raise the benchmark rate again by 25 basis points in May. Roughly 32.5% of investors using the Fedwatch tool are betting that there will be no rate hike next month.
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