We got our report card today! Inflation surprised to the downside, coming in at 4.9%. NLW explores the reaction and why Powell still has three big barriers to getting his soft landing, including, notably, the debt ceiling negotiations.
The Bitcoin price continues to hold above $23,000 and volatility should be expected as we are coming into one of the most critical economic events of the year! Both the FOMC & big-tech earnings are to be released on the same day. A 25BPS rate hike is almost guaranteed, which likely leads to a small move up, but will the momentum continue into Jerome Powell’s speech? Join Kyledoops live on Crypto Banter to find out the exact crypto price levels to watch.
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Crypto Banter is a social podcast for entertainment purposes only.
All opinions expressed by the hosts, guests and callers should not be construed as financial advice. Views expressed by guests and hosts do not reflect the views of the station. Listeners are encouraged to do their own research.
On todayโs episode, NLW updates on the Paxos situation. Paxos made a statement that it is willing to fight the Securities and Exchange Commission in court over whether BUSD is a security. The main part of the episode is focused on Januaryโs inflation data, which came in slightly higher than expected. NLW argues itโs not enough for the Federal Reserve to consider shifting course.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
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โThe Breakdownโ is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is โCountdownโ by Neon Beach. Music behind our sponsor today is โFoothill Blvdโ by Sam Barsh. Image credit: Ibrahim Akcengiz/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
On todayโs episode, NLW digs into Decemberโs just-released CPI numbers. For the sixth month in a row, year-over-year inflation declined. For the first time in more than two years, month-over-month inflation declined. For many, this confirms a Federal Reserve shift back to raising rates by 25 basis points at the FOMCโs next meeting at the end of this month.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26โ28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
–
โThe Breakdownโ is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is โCountdownโ by Neon Beach. Music behind our sponsor today is โSwoonโ by Falls. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
This episode is sponsored by Nexo.io, Chainalysis, FTX US and NEAR.
The biggest driver of the macroeconomic backdrop is inflation. At the last FOMC meeting, the Federal Reserve made it clear that its fall decisions about interest-rate increases would be driven by data โ most notably inflation data. On todayโs show, NLW looks at the just-released July inflation stats and why theyโre the first positive inflation surprise weโve had in more than a year.
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Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io.
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Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the worldโs most high-profile criminal cases. For more information, visit www.chainalysis.com.
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FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today.
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NEAR is a simple, revolutionary Web3 platform for decentralized apps, created by developers for developers. More than 700 projects are now building on NEARโs fast, secure and infinitely scalable protocol, from DeFi apps to play-and-earn games, NFT marketplaces and more. Start your developer journey now by visiting NEAR at near.org.
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I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenterโs mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register: coindesk.com/ideas
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โThe Breakdownโ is written, produced by and features Nathaniel Whittemore, aka NLW, with editing by Rob Mitchell and Eleanor Pahl. Research by Scott Hill. Jared Schwartz is our executive producer and our theme music is โCountdownโ by Neon Beach. The music you heard today behind our sponsors is โThe Nowโ by Aaron Sprinkle. Image credit: z_wei/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
