Bitcoin climbed back above $64,000 on Wednesday after U.S. inflation data for July came in at 3.4%, right in line with expectations. The reading, published by the Bureau of Labor Statistics, eased worries that the Federal Reserve would need to raise rates again this year. The move puts the largest cryptocurrency back in positive territory for the week.
CPI lands as expected
The consumer price index rose 3.4% from a year earlier, matching the consensus forecast. That's the same pace as the previous month? We don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that. We can say "The print gives the Fed room to keep rates unchanged for the rest of the year." That's an inference but reasonable. We can say: "The annual rate held steady" but we don't know. We can say "The figure was in line with what economists had projected." That's fine. "The data suggests inflation is cooling enough to keep the Fed on hold." But we don't have that
