The disinflation trend of late 2022 reversed in January, according to this morning's PCE Price Index. bitcoin is headed lower as traders ramp up expectations for more Fed rate hikes. SteveAlpher reports
The odds of the U.S. Federal Reserve hiking its benchmark fed funds rate 50 basis points in March are on the rise after the PCE Price Index showed the disinflation trend reversed in January.
On a monthly basis, the PCE Price Index gained 0.6% in January, up from 0.2% in December, and against expectations for 0.5%. The core rate also rose 0.6% in January versus 0.4% in December, and forecasts for 0.4%.
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