Bitcoin Price Falls Back Toward Week's Low on Inflation Worry

Though severely backward looking – this report is for January – the gauge of personal consumer expenditures remains the Fed's favored inflation indicator. Following the report, odds of a 50 basis point rate hike (as opposed to 25 basis points) at the Fed's next policy meeting in March are rising, with traders now nearly evenly split between the two choices. As recently as one month ago, there was roughly a 100% expectation of a 25 basis point move in March.