The U.S. inflation rate ticked up in October, reaching 2.6% annually. This increase follows months of persistently low inflation below the Federal Reserve’s 2% target. The rise in inflation is attributed to rising costs for energy and food. As the Fed considers the possibility of an interest rate cut, the latest inflation data will be closely analyzed to assess its potential impact on future monetary policy decisions. While higher inflation may warrant a more hawkish approach, the Fed must also balance its efforts to encourage economic growth.
Tag: Financial News
Bitcoin Price Sets Another Record as Post-Election Rally Continues
In a post-election frenzy, the indefatigable Bitcoin has skyrocketed to yet another all-time high. Like a comet ablaze, its value has soared above the $19,000 mark, leaving skeptics in its celestial wake. Market enthusiasts attributes its surge to both a flight to safety amid political uncertainty and institutional interest from behemoths like PayPal entering the digital asset arena. As the world holds its breath on election night, Bitcoin remains unyielding, its meteoric ascent continuing unabated.