Bitcoin 
$89,583 price surged above $89,600 moments ago, with PEPE Coin reaching an all-time high. The rally in the stock markets triggered by U.S. inflation data paused following statements from a Fed member.
Fed Statements
In recent remarks, Fed member Kashkari indicated that surprises in inflation could halt interest rate cuts. Today’s inflation data, while higher than last month, can be seen as a lesser evil. What did the Fed member say? Key points include:
“The rise and fall of inflation are largely driven by supply. Risks were present even before the election, and we need to monitor the data. I do not see too much upward inflation risk yet; the bigger risk is getting stuck. We are in a good place in the labor market and want to remain there. The labor market is softening. High productivity indicates a higher neutral level. I am not ready to say inflation is stuck above 2%. There are still six weeks until the Fed’s next meeting, and more data will come. The CPI headline confirms the path we are following.”
Following the inflation data, U.S. short-term interest rate futures rose as traders began pricing in an increased likelihood that the Fed would cut rates in December. BTC quickly rose, recovering to $89,500 after a near $1,000 loss.
