Bitcoin, Inflation and the Expectations Game

Bitcoin, Inflation and the Expectations Game
The U.S. Bureau of Labor Statistics published new monthly Consumer Price Index (CPI) data Wednesday, and as far as the state of the macro-economy is concerned, the numbers seem about as good as could have been expected. The rate of inflation declined in December, down to a 0.5% monthly rise in the standard CPI measure, compared to 0.8% rise in November. The main driver of the month-to-month change was a broad decline in energy prices in December. In particular, fuel oil used for winter heating dropped 2.4% month to month.Make no mistake: The December numbers are still abnormally high and…