Crypto and stock market investors keenly await the consumer price index (CPI) inflation data for January by the U.S. Bureau of Labor Statistics for further cues on Fed rate cuts. Bitcoin price trades above $50,000 after a massive buying in spot Bitcoin ETFs, triggering a substantial crypto market rally.
CPI and Core CPI Expectations by Wall Street Giants
Wall Street giants expect a major fall in both CPI and core CPI inflation, especially after the recent CPI revision. While Fed officials are cautious on rate cuts in March, the upcoming economic data will guide better on the monetary policy outlook.
JPMorgan, Bank of America, UBS, Morgan Stanley, Citigroup, Deutsche Bank, Nomura, and RBC estimate headline CPI inflation cooling to 2.9% from 3.4%. However, Barclays, Goldman Sachs, TD Securities, and Wells Fargo anticipate a decline to 3%.
Whereas for core CPI, experts from banks including Citigroup, Deutsche Bank, JPMorgan, Morgan Stanley, and UBS estimate a drop to 3.7% from 3.9%. Moreo
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