Goldman Sachs Analyst Predicts US Fed Rate Hike Relief; Bullish For Bitcoin?
Crypto News: Despite the first increase in annual rate of inflation in around 12 months, analysts are predicting that the overall economic trends suggest that the ongoing progress of disinflation is maintaining. On Thursday, the U.S. Bureau of Labor Statistics reported that the inflation in the United States rose by an annual rate of 3.2% in July 2023. In July, the Consumer Price Index (CPI) for All Urban Consumers increased 0.2 percent, seasonally adjusted, and rose 3.2 percent over the last 12 months, not seasonally adjusted, the Department said.
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Meanwhile, easing of the US Federal Reserve’s monetary policy could be a positive sign for the crypto market, as increased liquidity may lead to rise in crypto investments. On the regulatory front, the Bitcoin price may be boosted with developments around the Blackrock Bitcoin ETF, and the Bitcoin Halving event scheduled in the second quarter of 2024.
Goldman Sachs Analyst: July Rate Hike Was Last
Earlier, Bloomberg reported a quote from Gurpreet Gill, global fixed income macro strategist at Goldman Sachs Asset Management, on the macroeconomic scenario. The underlying details of the July CPI inflation data shows consistency in maintaining an overall path to disinflation, she said. She also expressed belief that the peak of the US Federal Reserve’s interest rate increases was likely in July 2023.
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