BlackRock issues blunt warning ahead of CPI data

BlackRock issues blunt warning ahead of CPI data. The Investment Institute cautions that the May CPI, due June 10, could reveal how the U.S.-Israel-Iran conflict is feeding into persistent inflation, with the Hormuz Strait closure as a key wildcard. Prolonged disruption could amplify the energy shock and impact even Bitcoin mining, which Cambridge data says consumes about 211.58 terawatt-hours per year, with nearly half from fossil fuels. Bitkern Group notes miners can switch off up to 600 hours annually, a flexibility energy providers value. The note also flags macro risks as the Fed is widely expected to raise rates at least once by year-end, with the CME FedWatch showing a 98% chance Warsh holds rates at the June 17 meeting.