A widely followed crypto guru is analyzing the potential repercussions of the recent US inflation data for June.
In a new video, pseudonymous Coin Bureau host Guy tells his 71,400 subscribers that last month’s inflation numbers are shocking the markets.
“Wow. 9.1%. That was the US inflation number that we got yesterday for June and, it’s safe to say, it took the market by surprise.
The figure for May was 8.6% and the expectation for yesterday’s announcement was 8.8%. Not many people were saying 9%, but the numbers just keep going up.”
Guy explains the new data means US inflation is at a four-decade high.
After suggesting that these high inflation numbers may not even reveal the full extent of turmoil, Guy dives into the immediate effects of the news.
“On the immediate release of these numbers the markets tanked. That’s because they know what lies around the bend – more aggressive rate hikes.
Prior to the release of yesterday’s inflation numbers, the markets were pricing in a 50 to...
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