CPI: JPMorgan, Other Banks Predict Hot Inflation for Months, Bitcoin to Fall Below $60,000?

The Consumer Price Index (CPI) for March by the U.S. Bureau of Labor Statistics comes in at 3.5%, which is the most influential data for the U.S. Federal Reserve to likely settle the debate around the timing of Fed rate cuts. However, Wallet Street banks estimate a rise in inflation before it starts to cool again. The latest data amid resilience of the United States economy means the Fed could still hold rate cuts for longer.