Inflation


Markets

Biden to Renominate Powell as Fed Chair and Appoint Brainard as Vice Chair

The president cites Powell’s stewardship of the economy during the pandemic.

Fed Chair Jerome Powell speaks Wednesday at a virtual press conference. (Federal Reserve, modified by CoinDesk)

Markets

Turkey Makes the Case for Bitcoin as Erdogan Runs the Autocrat’s Inflation Playbook

The longtime ruler’s unhinged monetary policy follows a familiar pattern – and it’s pushing some Turks toward bitcoin.

Turkish President Recep Tayyip Erdogan, who has held power for nearly twenty years. Erdogan has cut interest rates despite high inflation, in a short-term bid to prop up Turkey's economy (Antonio Masiello, Getty Images)

Policy

Biden and the Fed: Why Powell or Brainard Won’t Change Much for Crypto

Both candidates are seen as taking a tough stance on crypto regulation, but they’re also both seen as dovish – possibly beneficial for bitcoin’s inflation narrative.

Federal Reserve Chair Lael Brainard (C-Span, modified by CoinDesk)

Markets

Bitcoin Still a Risk Asset Despite Last Week’s Inflation-Led Rally, TradFi Experts Say

An elevated inflationary environment is completely new territory for bitcoin and its reaction function, one analyst said.

Bitcoin has been leading tops and bottoms in AUD/JPY, an FX market's risk barometer, by about four weeks. (TradingView)

Policy

Off the Charts: Supply Chain Angst

Is inflation in the U.S. the product of monetary policy or supply chain problems?

(Andy Li/Unsplash)

Markets

Bitcoin Retreats From All-Time High, Ether Follows

The shakeout appeared to coincide with a turn lower in U.S. stock markets.

Bitcoin and ethereum hourly chart (Trading View)

Videos

Crypto Surges on US Inflation Rise, Korean Investors Win Damages

Tencent CEO sees opportunity in the metaverse. Crypto surges after the fastest US inflation rise in 30 years. Korean court rules in favor of hacked investors. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

CoinDesk placeholder image

Markets

Bitcoin Jumps to New All-Time High as Inflation Spikes to 6.2% in October

Bond traders are increasing their bets on faster inflation after the U.S. consumer price index jumped 6.2% in the 12 months through October, the highest rate in three decades. Still “transitory?”

Bitcoin's hourly price chart showing a rally to new record high after CPI release. (TradingView/CoinDesk)

Videos

Why Rising Inflation Could Be Good for Bitcoin

Bitcoin rises to a fresh all-time high after the U.S. Bureau of Labor Statistics releases the October consumer price index (CPI) number, the highest since 1990. CoinDesk's Galen Moore discusses why the inflation increase "would be good for bitcoin," adding "[inflation] tends to seem to drive bitcoin and the stock market apart." Plus, reasons behind Coinbase's user numbers and revenue decline for the third quarter.

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