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US Inflation Posts Biggest Monthly Increase in 2023 as CPI Rises 0.6%


The U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than...

Marathon's Bitcoin mining rate fell 9% in August


The company still mined five times more Bitcoin than in August 2022, reporting that it produced 1,072 Bitcoin last month, and said the decrease from July was caused by unfavourable weather conditions

Bitcoin Shows Resilience Despite Rate Hike Concerns


Despite recent concerns about further potential interest rate hikes by the Federal Reserve, Bitcoin has shown notable resilience according to analysts. This comes after Fed Chair Jerome Powell's speech at the annual Jackson Hole symposium last week, where he indicated that more rate hikes may be...

Powell: More Rate Hikes May Be Needed to Curb Inflation


The chairman of the U.S. Federal Reserve, Jerome Powell, warned on Friday that inflation remains too high and signaled the central bank may continue raising interest rates to get it under control. In remarks at the Jackson Hole symposium, Powell acknowledged recent progress in lowering inflation...

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