Inflation just reminded everyone who’s in charge.
By Maxime Laurent · 2026-04-10 13:52
Inflation just reminded everyone who’s in charge.
March CPI came in hot at 3.3%, while Core CPI at 2.6% was softer than expected. The Fed still has no easy exit.
For a few months, the market was getting comfortable, almost sleepy, dreaming about a smoother path into lower rates. Then March CPI landed and gave everyone a proper wake-up slap. Headline inflation climbed to 3.3%, the highest since May 2024, with energy doing a big part of the dirty work as the Iran war pushed oil back into the macro conversation. 🔥
Yes, Core CPI at 2.6% was a touch softer than expected, and that matters. It tells us the deeper inflation pulse is not exploding everywhere at once. But let’s be honest: when headline inflation starts running again because energy is back on the table, the Fed does not get to relax. Not now.
That’s why the real message here is simple: higher for longer is back on the menu. Maybe not forever, maybe not as a dramatic panic trade, but enough to remind everyone that rate cuts are no longer something you can treat as a base case and move on. C’est pas rien.
For crypto, this is the kind of macro backdrop that can mess with positioning fast. Liquidity dreams get pushed back, risk appetite gets more selective, and suddenly the market has to care about oil, inflation, and bond yields again. Not exactly the sexy part of the cycle, but this is where conviction gets tested. 🌊
#Inflation #CPI #CoreCPI #Fed #Macro #Crypto #RiskAssets #Oil #Rates #MarketSentiment
March CPI came in hot at 3.3%, while Core CPI at 2.6% was softer than expected. The Fed still has no easy exit.
For a few months, the market was getting comfortable, almost sleepy, dreaming about a smoother path into lower rates. Then March CPI landed and gave everyone a proper wake-up slap. Headline inflation climbed to 3.3%, the highest since May 2024, with energy doing a big part of the dirty work as the Iran war pushed oil back into the macro conversation. 🔥
Yes, Core CPI at 2.6% was a touch softer than expected, and that matters. It tells us the deeper inflation pulse is not exploding everywhere at once. But let’s be honest: when headline inflation starts running again because energy is back on the table, the Fed does not get to relax. Not now.
That’s why the real message here is simple: higher for longer is back on the menu. Maybe not forever, maybe not as a dramatic panic trade, but enough to remind everyone that rate cuts are no longer something you can treat as a base case and move on. C’est pas rien.
For crypto, this is the kind of macro backdrop that can mess with positioning fast. Liquidity dreams get pushed back, risk appetite gets more selective, and suddenly the market has to care about oil, inflation, and bond yields again. Not exactly the sexy part of the cycle, but this is where conviction gets tested. 🌊
#Inflation #CPI #CoreCPI #Fed #Macro #Crypto #RiskAssets #Oil #Rates #MarketSentiment
Disclaimer: This content is for informational purposes only and not financial advice.