Crypto
US Inflation Cools, Spurring Bitcoin and Gold Surge
The US inflation rate slowed to 3.4% in August, according to new data from the Federal Reserve.
This is a decrease from July's reading of 3.7%, which was higher than forecasters had predicted at 3.7%
Bitcoin and gold prices jumped shortly after the release, with Bitcoin reaching $85,000 and gold increasing in value
The Fed watches the personal consumption expenditures (PCE) price index closely, as it measures what Americans pay for goods and services.