Bitcoin Enters Fed Week as U.S. Inflation Expectations Reach 4.7%

Bitcoin (BTC) enters the Federal Reserve’s policy week as U.S. households’ one-year inflation expectations rose to 4.7%, while the overall consumer sentiment reading remained nearly unchanged. October’s final household survey, released Friday, Oct. 23, showed the year-ahead measure increasing for a second consecutive month. Consumers’ expected price increases over the next 12 months reached 4.7%, up from 4.6% in September and the highest reading since May. Expectations for the next five to 10 years also rose, reaching 3.5% from 3.4% in September, likewise their highest level since May. The overall Consumer Sentiment Index stood at 48.0, compared with 48.1 in September. Its Current Economic Conditions index fell to 46.7 from 50.9, a decline of 4.2 points. The Expectations index moved higher, reaching 48.8 from 46.3, a gain of 2.5 points.

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