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Terra USD Stablecoin Plunges From Intended Dollar Peg

It’s Inflation Day, some stable coins may not be very stable, and there’s a drop in China’s infection rate.

It's the big number everyone has been waiting for this week -- US inflation data for April. Economists forecast the headline annual number moderated to 8.1% from 8.5% in March. Even if that number lands right on target, the Federal Reserve would still be on course to raise interest rates by 50 basis points at the next meeting, since that would be well over where policy makers would like it to be. That is especially so in a backdrop where President Joe Biden remarked that fighting inflation is his top domestic priority.