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In what is a concerning development for Americans, US inflation has officially risen to 3% for January 2025. Indeed, the data from the Bureau of Labor Statistics Consumer Price Index (CPI) has arrived above what many analysts had expected. Moreover, it is up slightly from December’s 2.9% inflation rate. The monthly figures are important as the Federal Reserve continues to develop its plan forward with regard to interest rate cuts. Just this week, Fed Chair Jerome Powell discussed the next potential cuts. Specifically, he noted that the country didn’t “need to be in a hurry.” Conversely, January’s inflation is the highest record mark since June 2024. BREAKING: US inflation rises to 3%, higher than expectations. — Watcher.Guru (@WatcherGuru) February 12, 2025 Also Read: US Stocks: Nasdaq, S&P 500 Slip Amid Tariffs, Inflation Data US Inflation Jumps Again to 3% to Kick Off 2025 Over the last several weeks, the US economy has been confronted with what cou...

Bitcoin dropped to $63,000 after the Federal Reserve hinted at future interest rate cuts. This sudden BTC price drop has alarmed investors and shaken the cryptocurrency market. Let’s dive right in and see what this is all about. Also Read: Powell’s Rate Cut Hints: Crypto Market Set for a Boost? Understanding the Impact of Fed Rate Cuts on Bitcoin and the Cryptocurrency Market Source: Pexels Federal Reserve Chair Jerome Powell’s recent statements have significantly affected Bitcoin’s price. His comments about less aggressive future rate cuts led to a crypto market sell-off. Fed’s Cautious Approach to Rate Cuts Powell stressed that the Federal Open Market Committee (FOMC) isn’t rushing to cut rates. He said: “This is not a committee that feels like it’s in a hurry to cut rates quickly.” Powell also added: “Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on a...

Ripple’s XRP token is being corrected after a rally last weekend. The asset is up 4.9% in the 14-day charts and 12.9% in the yearly charts but is down 0.5% in the daily charts, 2.8% in the weekly charts, and 1.6% over the previous month. Source: CoinGecko Also Read: Cardano: Is There Still Hope for ADA to Reach $1 in 2024? Why is The Crypto Market Dipping? The crypto market rallied over the weekend following Federal Reserve chair Jerome Powell’s announcement of interest rate cuts starting in September 2024. The rally, however, was shortlived, and Bitcoin has fallen to the $63,000 level after briefly surpassing $64,000. The dip could be due to investors not feeling confident about risky assets and a general bearishness in the market. Also Read: Ripple: AI Predicts XRP’s Price For September 1, 2024 How High Will XRP Go in September 2024? Source – FX Empire According to CoinCodex data, Ripple’s XRP token could surge to $0.79 on Aug. 31, 2024. The platform does not e...