The first big US econ drop just hit live as the Producer Price Index showed a 0.4% increase for the month which lined up exactly with what everyone expected 📊.
The yearly leap sits at a spicy 5.4% way above the Federal Reserve 2% target 🏦 and it’s even 0.1% hotter than forecasts which might explain why BTC slid right away 💸.
Crypto had already slid from over 80400 down to 78400 waiting on these key events but the PPI slammed it south with Bitcoin losing 1000 in minutes after release 😱.
Excluding wild sectors like food and energy the core PPI climbed 0.2% which actually beat the 0.3% forecast 😂.
The next stretch looks wild for global econ moves 🖤 besides today’s PPI the August Consumer Price Index lands tomorrow right before the Federal Reserve meeting on September 15-16 🌙.
The central bank will drop its rate call on September 16 and odds for a hike have surged sharply lately 💀.
Just another echo from the void by iconofsin.eth 💖
