The latest Consumer Price Index (CPI) figures for December have rattled markets, throwing the Federal Reserve’s inflation strategy into question. The U.S. Department of Labor reported a 0.4% increase in the monthly CPI after seasonal adjustment, overshooting the forecast of 0.3% and the previous value of 0.3%. On an annual basis, inflation climbed to 2.9%, up from 2.7% in November, the highest rate since July 2024. The Federal Open Market Committee ( FOMC ) has consistently communicated its intolerance for inflation exceeding the 2% target. While markets had hoped for a pause or even a reversal in rate hikes, these hopes have been dashed. And the crypto market, by all indications, just might be ‘cooked.’ Developing Story Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
