Breaking: Fed’s Preferred Inflation Gauge PCE Cools To 2.6%, Bitcoin & Altcoins To Rally?

Quick Summary:

Bureau of Economic Analysis reported headline PCE inflation rate slowed to 2.6% from 2.7%, which came in line with market estimates.

Traders bracing for PCE inflation data triggered positive sentiment in the crypto market as inflation cools in the US.The U.S.

The annual core PCE inflation also dropped as expected to 2.6% from 2.8%.

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Article Details

Author / Journalist: Varinder Singh

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Altcoin News US Inflation Bitcoin News Altcoins Bitcoin (BTC) Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 13:32:38 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 49 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21409993

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 12 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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