Crypto market eyes recovery ahead of key US inflation data release

The Asia Pacific and European markets slide in caution ahead of key U.S. inflation data. Read the full article by: Prashant Jha

Key Points:

• Durning the height of Covid-19 the stimulus checks were what helped get a lot of people through it in times where work was almost non existent. The only issue with that was the Federal Reserve printed money out of thin air to be able to distribute those checks to the American people.

• Putting so much extra money into circulation, along with other Covid related circumstances, has caused inflation to be a concern now and going forward. In 2021 the US has printed 35% of the total dollar circulation. On December 10th the consumer price index for November which people expect a 6% increase

• The Biden administration said that the $1.85 trillion infrastructure bill, which consists of a spending program and tax cuts, will help ease the effects of inflation. The only thing is that they are still printing money to do this so it does leave some skepticism of how effective that plan is. Across the board from crypto, NYSE, and foreign stocks taking a hit as a result of this.

• We have all seen the issues that increased inflation has caused for everyone from gas prices to food at the grocery store. The price of everything is increasing and purchasing power is decreasing slowly but surely.