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U.S. service sector just barely avoided contraction — ISM at 50.1 vs 51.5 expected.
But prices? Up. Way up. Inflation in services is re-accelerating even as demand stalls.
This is the stagflation setup economists fear.
Now layer in Trump’s tariff threat:
150–250% on pharmaceuticals. Chips next.
You’ve got supply-side inflation, weak growth, and political shocks… all at once.
In this kind of environment, crypto isn’t risk-on — it’s optionality.
It’s what you hold when policy gets erratic and currency trust gets tested.
#Macro # Stagflation #Inflation # Tariffs #Bitcoin # CryptoFinance #ISM # Trump #Markets