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Inflation Is Here to Stay
Consumer Price Index (CPI) hits historic levels - who would have expected this?
Hey DEFI TIMES community,
The news broke on Tuesday: The Consumer Price Index (CPI) has hit incredible highs in June. In fact, the CPI hit 5.4% last month, which is the highest we have seen in 13 years - a historic month!
Who would have expected this?
In June, Jerome Powell claimed that the inflationary spike is only “transitory.” Of course, many people started criticizing him. In the end, inflation wasn’t transitory; it’s here to stay!
Even Larry Fink came out on Tuesday and expressed his concerns:
Fink believes that inflation is here to stay and it's a fundamental part of our future monetary policy.
And I do agree with him here!
But why would Powell dismiss the threat of inflation? Well, Powell has to say that inflation is not a problem - even if he doesn’t believe so! If Powell said that inflation wouldn’t go down, inflation expectations would rise, which in turn would increase the actual inflation even more!
Inflation is here to stay in times when trillions of dollars are printed to “save the economy.”
You don’t have to be a genius to realize this simple fact!
Don’t be fooled!
That’s why we are in crypto right?
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Uniswap v3 on Optimism
Uniswap v3 is finally live on Optimism, which is one of the best-known optimistic rollups. This marks a historic moment in the history of L2 solutions!
Scale baby, scale!
UAE to launch CBDC
The UAE is experimenting with its own CBDC!
India banks bearish on crypto
India’s banks are warning their customers to stay away from cryptocurrencies in general!
OK Group partners with China
Set Protocol on Polygon
Set Protocol is joining the Polygon squad! DeFi Summer 2021 imminent?!
Hop Protocol has launched their instant transfer bridge for USDC between ETH, xDai, and Polygon. In the next couple of weeks, more assets and L2s will be supported.
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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.
Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.