US August PCE inflation hits 3.4% as Jefferson flags upside price risks
- —August PCE inflation at 3.4%, above the Fed's 2% target for over five years
- —Jefferson backed the September hike that lifted rates to 3.75–4.00%
- —Unemployment at 4.1% in August; H1 GDP grew at a 2.4% annual rate
- —Energy prices, tariffs and AI infrastructure costs are key inflation drivers
Why it matters: The Fed's hawkish tone on inflation reduces the odds of near-term easing, a headwind for risk assets including crypto.
Source: TokenPost