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Today's big stories

US inflation cooled off in August, suggesting the Fed might’ve been right all along
Our analyst looked at whether “ethereum killer” Solana justifies its 5,430% jump in the last year – Read Now
Job vacancies in the UK have reached new highs, so it might be time to ask for a raise

Peakaboo

What’s Going On Here?

Data out on Tuesday showed US inflation rose less than expected in August, and there are signs it might all be downhill from here.

What Does This Mean?

There are a cocktail of factors behind America’s rising prices this year: pandemic-related bottlenecks, a sudden rebound in demand, and ongoing government support programs that have more-or-less constantly been pumping cash into the economy. All told, it’s driven consumer prices 5.3% higher in August than the same time last year.

But here’s the thing: that rise is down from July’s 13-year high of 5.4%, while the “core” inflation measure – which leaves out more unstable food and energy prices – eased slightly as well. And that’s a sure(ish) indication that those price rises are finally calming down a bit.

Why Should I Care?

For markets: Told you so.
This news will come as a relief to the US Federal Reserve (the Fed), which has maintained for a while that high inflation will fizzle out and has, in turn, stuck to its guns on leaving interest rates where they are. And now that the Fed’s decision looks like it’s been vindicated, investors – worried about the damage higher rates could do to stocks – can breathe a little easier too.

The bigger picture: This could still backfire.
Developed countries around the world are feeling the pinch of inflation right now, but the US is getting squeezed most of all. It’s not hard to see why: the US government flooded the country with dollars when it rolled out rescue packages worth 25% of its economy. That’s helped it recover more quickly than most, sure, but it could also mean the US is battling inflation for a lot longer than its rivals are.

You might also like: Why you might have the wrong end of the inflation stick.

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Analyst Take

Is Solana The One True “Ethereum Killer”?

What’s Going On Here?

Ethereum might be one of the biggest names in the crypto world, but it’s far from invincible.

In fact, its weaknesses have put it in the crosshairs of a few so-called “ethereum killers” that want the number two spot for themselves.

Of those, Solana is the most promising: it offers some of the lowest transaction fees on the market, and handles 65,000 transactions per second – putting ethereum’s 30 to shame.

All that’s to say, it’s little wonder SOL – Solana’s token – is up 5,430% in the last year, bringing the newbie crypto into the top ten of biggest market caps.

But like we say, it’s not the only ethereum killer on the market.

So that’s today’s Insight: whether it’ll be the killer to bring ethereum to its knees, and whether there’s still time to ride its upward trajectory.

Read or listen to the Insight here

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