Kansas City Federal Reserve President Jeff Schmid stated that Artificial Intelligence (AI) may be prompting a structural shift, leading some businesses to pause hiring as they reassess required skill sets. This comes as the unemployment rate edged up to 4.4% in February 2026, with further inflation data pending. The crypto market, already experiencing declines, could face increased pressure and a potential shift towards safer assets if inflation figures are unfavorable.
Crypto prices are down significantly, with the market cap seeing a 2.44% decrease. The asset class is also contending with competition from Gold and Silver, both of which have recently seen value increases. For example, Gold rose by 1.77% and Silver by 2.68% in a 24-hour period, while the US Dollar remains relatively strong despite a slight dip. Additionally, rising oil prices, potentially nearing $90 a barrel, could further exacerbate inflation concerns, impacting the crypto market. Reports suggest potential disruptions in oil supply routes, though some analysts believe Middle East conflict impacts may be short-lived.