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US inflation drops in February, Bitcoin surges past $84,000
The United States has witnessed a decline in inflation for the month of February, with the annual Consumer Price Index (CPI) dropping to 2.9%. This marks a significant decrease from the previous month’s 3% inflation rate. Consequently, Bitcoin’s value has surged past $84,000.
According to fresh CPI data released on Wednesday, consumer prices rose by 0.2% in February compared to January. Additionally, the annual inflation rate decreased from 3% in the preceding month to 2.8%. This development has led to a significant boost for Bitcoin, with its price surpassing $84,000.
However, economists have expressed concerns that President Trump’s tariff policies could potentially lead to an increase in prices and hinder any further progress towards cooling inflation trends. They warn that this might result in persistent inflation above the Federal Reserve’s target.
Fed Chair Jerome Powell had previously indicated that the central bank is unlikely to cut interest rates in the near term. This stance has led markets to expect a low probability of a rate reduction at the next meeting.
Source: https://cryptobriefing.com/us-inflation-trends-february-tariffs/
