Wall Street Bullish On Crypto & Stocks As US CPI Inflation Set For Historic Drop, Fed "Skip"
According to the US Bureau of Labor Statistics , the annual CPI inflation cooled to 4.1% in May from 4.9% in April and 5% in March. It is the lowest CPI inflation rate since March 2021. Meanwhile, core inflation also cooled to 5.3% from 5.5%. advertisement Also Read: Bitcoin , Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit Wall Street giants JP Morgan, Goldman Sachs, and RBC estimated the CPI rate at 4.2%, whereas HSBC, BMO and UBS estimated CPI to come in line at 4.1%. Barclays, Bloomberg, CIBC, Citigroup, Credit Suisse, Morgan Stanley, Visa, and Wells Fargo predict the CPI inflation to cool further to 4%. Analysts believe the inflation in the US is set for historic drops over the next two months. Investors brace for the big week with key other events, including the US Federal Reserve’s monetary policy decision, as well as interest rate decisions by the European Central Bank and Bank of Japan. ...