The latest Consumer Price Index report landed softer than Wall Street expected, with headline CPI printing at 4% year-over-year and core CPI at 3%. Both figures came in below consensus forecasts, and the market did exactly what you’d expect: risk assets caught a bid.
Bitcoin climbed to hover near $62,600 following the release, while Ethereum also posted immediate gains.
The Fed calculus just shifted
The Federal Reserve’s target rate currently sits between 3.50% and 3.75%. A cooler-than-expected inflation print doesn’t guarantee a rate cut, but it certainly makes the conversation easier for dovish members of the FOMC.
The next FOMC meeting is scheduled for July 28-29, 2026. That’s roughly two weeks away, which means this CPI report will be one of the last major data points the Fed digests before making its decision.
