Inflation accelerated more than expected to a 40 year high in june. As the price price of everyday items became painfully more expensive now in today's video. We'll everything you need to know about today's cpi report and we'll cover what the new inflation number means for you and for the fomc meeting set to take place later this month on top of that we'll also be going over some of the major market headlines. And what you should be doing next and if you guys are enjoying these daily market updates be sure to like this video down below subscribe if you haven't done so already and let's uh.

See what's happening next today all right so first things first let's cover the cpi report. And what this all means this morning. Cpi report couldn't have been any worse because both headline inflation and core inflation had shown that it increased significantly now year over year headline inflation was expected to be up eight point eight percent but following may's eight point six percent increase. We are now much higher than either one of those numbers and nine point one percent core inflation for anyone who doesn't know.

Excludes more volatile measurements of food and energy ended up climbing. 59 from the previous. Year. Keep in.

Mind that core prices also rose. 07. On a monthly basis. Which is higher than in april.

And in may this year. Suggests that underlying inflation pressures remain strong and widespread the significant contributor to the headline. Inflation though increase was coming from energy with a 75. Increase and this resulted from the skyrocketing gas prices that many of us have seen which have also been coming down just a little bit since the start of july now next month.

We could see a lower headline inflation number because of how inflated gas prices were during june. The core inflation. Number was a primary concern of this. Report because it does exclude.

Energy and it was expected to drop by. 02. Percent now instead pretty much the. Opposite happened core inflation jumped 02.

Percent and these percentages may seem small they may seem insignificant. But when we're talking about inflation. Specifically. The core inflation.

A point. Two percent increase is pretty significant now. Taking a look at some specifics from the report. So rent costs were shown to surge in june.

Jumping point eight percent over the month. And this is the largest monthly increase since april of 1986 on top of that used cars went up. 18 in may and now is. Sitting at 16.

For the month of june. Confirming that the auto bubble has not yet popped on top of that transportation services went up 21. And this is most likely coming from the increase in energy prices. But transportation is affecting a lot of people no matter where you're trying to go if you're trying to hang out with the boys if you're you know trying to go on a vacation.

Or you're just trying to have your daily commute to work when transportation costs go up when the cost of cars gas bus fares anything ubers when everything is going up this is going to directly affect us so brian. What does this month's cpi report. Even mean what does it show us well to break it down inflation has not yet still slowed down. And we still have not yet seen the peak now.

Although. Some politicians are arguing that this is coming because russia and ukraine are still in the ongoing. War and there are a lot of things going outside the us. White.

House officials have also shown that inflation is still going up just because of the continuous money printing. That's happened over the past few years. The data here is clear this right now is the highest inflation that the united states has had since 1981 and this is the biggest monthly gain since 2005. The current inflation reading that we got could push the federal government into an even more aggressive position and with the cpi report beating all inflation.

Expectations. Investors are now speculating. Whether. Jerome powell and the federal government may even go from the 75 basis point rate hike to 100 or even 125.

So. According to one group the cme for the federal. Watch tool. They stated that we have a 37 chance of moving up a whole percentage point next now for our everyday jungs.

The number that we've seen with inflation means. It's just another hit to the wallet. It's another hit to our dollar and as inflation adjusted incomes haven't really been matching the amount of inflation. We're seeing across everyday spending.

It seems like many people are feeling the impact now. I even know that right now. The used car market is going through a whole tremendous bubble at this moment. We're seeing some people not being able to pay the money off of their cars one of my buddies.

Marco whiteboard finance also recently made a video just going over his thoughts on that so i recommend you guys check that out too pretty. Much the reason. Why taking a look at used car markets or seeing what the auto industry is doing is because this gives us an indication of whether or not that recession is here and how bad it really is on top of that when it comes to the home buying market. It looks like things are slowing down at least within the dmv when i'm talking to my real estate agent friends they're telling me there's a big shift that's going on we also do have record.

We do have information that right now interest rates on mortgages did come down just a bit. But if we do get a continuous rate hike increase. We could see that going up even higher. So my thoughts on all this is that i'm predicting.

We still be on track for a 75 basis point hike for the month of july. And i don't believe powell would raise rates just yet by 100 or 125 points. But please be prepared for anything because if we do not get any type of slowdown and we see gas prices happen to go up once again then we could see the numbers going up too. It's clear.

Though i think we can all agree inflation is out of control and this is creating severe financial pressures for a lot of us. Households now on top of that we even got an article coming from bloomberg. Just talking about how millions of americans right now regret the great resignation anyone who's not familiar with this we had a lot of people who ended up quitting their jobs at the start of this year. While we went through the pandemic and we saw a shift within the labor market.

We saw a lot of people working from home. Many people thought okay you know what the markets are doing well. Maybe. I don't need to uh work.

This job that i've hated for a while and many people decided to quit. It was reported that about 20 million americans had quit their jobs in the first five months of this year. And right now with the markets continuing to go down inflation going up and people not having an income. Many people are now regretting that decision.

This is why if you've been an individual who's worked a nine to five your whole life. And you've been trying to break out of that run you can't just quit your job hoping that that next side hustle. That's not guaranteed yet is gonna take off sometimes the risk does pay out it was able to pay off for me. When i first had dropped out of college.

I quit my job working with kids with disabilities and then i moved over into starting my own business going into e commerce and luckily enough. I was able to put in the grind put in the work. But even for my first year of working just keep in mind we made good revenue. I made over a hundred thousand dollars.

My first year in revenue. But people don't often talk about the profit margins. Which was minuscule. It was like 15 maybe 20 000.

And then after tax. It's even less than that and then after just reinvesting into the business. Seeing how much money. I was left with i actually had more debt than i'd initially started the whole reason i share this story is because it's never a fairy tale.

Entrepreneurial story that you may hear from the books or you hear of all these large case scenarios. If you happen to be one of those individuals that don't have a job or your income's not going down or you really hate the work that you're doing. There's still many options that you can pursue and although it took me a while to figure it out eventually. I was able to get it about a few weeks ago.

I made a video just talking about how to prepare for this recession. If you guys have not yet watched it or check that out make sure you guys do at the end of this video. We'll have like a little card or an end screen or a link in the description as well the big takeaway. Though is if you happen to be feeling that rut just know that anything is possible the opportunities wait and if you are someone who might have been unemployed for a while or you're still struggling to figure out what you want to do it takes patience.

But the opportunities are here and i can tell you this if i was able to find any type of success in what i do i know that you guys can as well now going more into just what we're seeing with the general broader market not much movements happening with the top indexes. Now it is worth noting that the smp candlestick chart showed a massive red candle. When the cpi report initially came out and bitcoin did have a far more aggressive reaction to the news on the 30 minute chart taking a look at your. Screen the long red candle is from 8 30 am eastern time when the cpi report was released and bitcoin's price went from around twenty thousand dollars to around nineteen thousand dollars.

In just a span of thirty minutes. Now the absolute low of bitcoin's crash was sitting at eighteen thousand nine hundred dollars and we take a look at the four hour chart. The rsi which is at 35 had dropped below oversold territories earlier this morning. We are now finding ourselves trading below all relevant emas.

The 50 the 100 and even the 200 bitcoin is still trading in the price range of nineteen thousand dollars and the twenty thousand four hundred dollar range and the recent price drop has touched our support line and came back up now. This is just a warning that we are not able to find support even though we've been within this range. So if we get any type of huge bearish catalyst or some terrible news within the market this could still break that support level of us descending. Even further into the 17 000.

Range. Big headline for today is going to involve ripple and the sec. They're back in the headlines and right now. The united states securities and exchange.

Commission has suffered another blow in its case against. Ripple after a us. Judge denied its claims for attorney client privilege regarding. Internal documents related to the hin min speech inman speech.

So to give you a recap of the events for this story. The sec went ahead and sued the blockchain firm ripple back in late 2020. And if you guys have been into the crypto markets for long enough you would have heard about this court case and the reason. Why it's significant is because this is really the first time.

The sec targeted and has just been going ham. With one of the crypto projects. And this is a lawsuit that's been lasting a while and many people assume that if we're able to get out of this lawsuit and ripple comes out on top. Then it could open the floodgates and show that regulation is chill.

We're still able to navigate these waters and that this would be a huge win for the overall crypto industry hopefully. Bringing the prices up too all right so pretty much though to sum up the ripple event. Because i don't want to go into the whole timeline. There's been a lot of back and forth basically right.

Now. The sec has been pretty desperate and they've been trying to keep certain information. A secret and it looks like right now. Judge netburn.

Which is the individual who is running at this case or being the judge of this case officially denied the motion. Yesterday that the sec will now be required to hand over the documents that they've been fighting to keep a secret in the off chance whatever contents of the speech documents that they were withholding and keeping a secret. If it comes out and it is compelling enough this could be the stamp to end this case. This overall here though is a headline.

Which is good for the ripple community. It's good for the overall crypto community as well and right now this is an ongoing case. But hopefully we're able to see a little bit of a conclusion to this story. Because it has been going for a very long time now quick update on celsius.

We actually got word that they reported. They would rather lose 6 billion in bailout than disclosing its financial records. Now currently it looks like even right now. We aren't hearing.

The best news. When it comes to celsius the headlines aren't great. But they are still paying off that loan. Which is stored on ave and they're moving about 418 million dollars of staked ethereum to an unknown wallet as of yesterday celsius has nearly paid off its debt on the d5 protocol ave which is freeing up that collateral like it did last week with the maker protocol now the latest move brings celsius's total debt down to 59 million dollars.

Now 59 million dollars is still progression especially from where we've started hopefully. Celsius is able to get it under their feet. And as soon as they do i am taking my money. I'm running off with it so quick.

I'm depositing it back and then i'm denying any type of access they can have ever to my bank accounts all right now guys that is the current state of the market. I mean you know even for me these bear market updates. It's totally new this is something that we're getting used to but i just want to say i appreciate you guys for sticking around watching these and still being involved in this community. I know the better days are coming.

I know i mentioned a lot. But i do know that better days indeed will come they will come. It's just going to take a bit of time now guys. If you have not yet done.

So already follow me on instagram follow me on twitter. I would love for you guys now. If you guys have not done so already follow me over on twitter and on instagram. I would love to get connected with you guys there if you do follow me on any other social media.

Please be careful of scammers impersonating. Me now on top of that the code word for today's video is going to be bush comment that down below. If you guys made it all the way till the end of today's update. Whenever you're ready to start buying up the dip or you're seeing an opportunity yourself.

And you want to invest into crypto tax free. We also have a service where you can invest into crypto don't forget to check out. I trust capital. Link down below in the description and by using them you can also get a free 100 by signing up and keeping some money stored in that account now guys.

Like the usual have an amazing week stay strong and i'll see you all soon peace.