May CPI Rises to 4.2% as Energy Jumps, Clouding Fed Rate-Cut Outlook

U.S. inflation picked up in May, with headline CPI rising 0.5% month over month and 4.2% year over year, as energy remained a key driver. The hotter reading adds friction to expectations for near-term Federal Reserve rate cuts, keeping Bitcoin traders focused on how interest-rate prospects may shape risk assets.