U.S. wholesale inflation hotter than expected. Meme coins are out of SEC jurisdiction and Trump rounds up major picks for crypto regulators.

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U.S. inflation at the wholesale level came in faster than forecast last

month and another disappointment to investors and policymakers hoping for cooling price pressures.

The producer price index rose four tenths of a percent in January and three and a half percent

year over year. Both numbers faster than expected. The PPI number took on greater

significance, as Fed Chair Jerome Powell said, there's no rush to cut interest rates this week,

but he would be interested in seeing if today's number confirmed the disappointing CPI results.

The price of Bitcoin didn't immediately react to the fresh data.

Memecoins likely fall out of the jurisdiction

of the U.S. Securities and Exchange Commission. SEC Commissioner Hester Purse telling Bloomberg,

many of the meme coins that are out there probably do not have a home in the SEC under our

current set of regulations. If that's something Congress wants to address, they can do that.

Maybe that's something that the CFTC wants to address. they can do that. Maybe that's something that the

CFTC wants to address. But many of those, I think, are probably not within our jurisdiction.

Purse's hands-off stance is a market shift away from the SEC's approach to crypto regulation

under former chair Gary Gensler, who frequently asserted that all crypto tokens, aside from Bitcoin,

were securities.

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