The Fed’s PCE Data Used to Measure Inflation Has Been Released! Here’s Bitcoin’s (BTC) Initial Reaction!

The leading cryptocurrency, Bitcoin (BTC), continues to remain above $75,000 despite the uncertainty stemming from the US-Iran conflict.

As the war between the two countries continues, concerns about inflation stemming from energy prices are also increasing.

At this point, the Fed announced its April interest rate decision yesterday and kept it unchanged, as expected.

Related News: A Small Change at the FED Caused Bitcoin to Fall! - Wall Street Giant Morgan Stanley Revised Its FED Interest Rate Forecasts After Yesterday's Decision!

While the Fed is said to be prepared to decide in either direction in the face of inflation risk, Wall Street investors have begun betting on the possibility of a Fed interest rate hike this year following hawkish signals from Fed officials.

As expectations of an interest rate hike increase, the February data on Personal Consumption Expenditures (PCE), which the Fed closely monitors when making its interest rate decisions and is considered a leading indicator of inflation, has been released.

Accordingly, the personal consumption expenditure data for March were as follows:

Core Personal Consumption Expenditures Price Index (Annual) Announced 3.2% – Expected 3.2% – Previous 3.0%

Core Personal Consumption Expenditures Price Index (Monthly) Announced 0.3% – Expectation 0.3% – Previous 0.4%

Personal Consumption Expenditures Price Index (Annual) Announced 3.5% – Expected 3.5% – Previous 2.8%

Personal Consumption Expenditures Price Index (Monthly) Announced 0.7% – Expected 0.7% – Previous 0.4%

What was Bitcoin’s (BTC) Initial Reaction?

Continue Reading: The Fed’s PCE Data Used to Measure Inflation Has Been Released! Here’s Bitcoin’s (BTC) Initial Reaction!