The Fed's preferred inflation gauge came in at 2.8% for November, continuing its drift away from the central bank's 2% target. With inflation still sticky above the Fed's comfort zone, the path to rate cuts remains uncertain. This reading could reshape market expectations around monetary policy tightening—a critical factor that typically moves crypto volatility and risk asset appetite. Traders monitoring Fed decisions will want to keep a close eye on how this data influences the next policy announcement.