Core US Inflation Rises to 40-Year High, What Does it Mean For Crypto?
Greater Economic Pain
By: Marvin Lanes •DeFi Videos
With inflation persisting, markets took a nosedive following the Core inflation figure announcement yesterday but have since recovered their losses. Today we’re discussing the markets, where inflation is likely to go, the rising US Dollar, and what this news packed week is likely to mean for all of us following the DeFi space.
The US bureau of Labor & Statistics presented their findings which included Core CPI at 6.6% YoY.
This is the Highest Core CPI has been since back in 1982. The significance of a long term view can sometimes be overlooked in DeFi given just how young the space is, so to really drill it in, we’re talking about the worst inflation on consumer goods in over 4 decades.