New Fed chair Kevin Warsh faces his first inflation test as May CPI hits 4.2%. Markets price 63% odds of a rate hike, with implications for Bitcoin and

Donald Trump is urging new Fed Chair Kevin Warsh to cut interest rates, but inflation at a three-year high complicates the picture for crypto and risk

Inflation rose 4.2 percent in May, the highest since 2023, keeping prices above the Fed’s target and increasing the odds of a rate hike later this year.