Published 03 Aug, 2023
July 2023 did not disappoint in the Truflation Nation.
Before dipping to a historic low of 2.11% on 14 July 2023, US CPI hit an unnerving 2.22% – well within Federal Reserve striking range. Meanwhile, UK CPI remained stubbornly above 11%, causing the CEO of Social Capital and co-host of the popular All-In podcast, Chamath Palihapitiya, to enter the comment section in despair (the main tweet snagged 1.8 million views).
The debate soon raged across social media and within the TradFi press.
Leading what came to be a chorus of defenders, economist and former Federal Reserve insider Danielle DiMartino Booth (DDB) analyzed Truflation data going back years, concluding, “Since 2012, Truflation’s correlation with the CPI is 0.97,” finally putting to rest quibbles about it versus BLS CPI. It tracks.
She’d flesh out her findings in a Truflation Spaces not too much after, praising the world’s first on-chain, real-time inflation source. It’s a well-spent hour with DDB’s insights on the US economy, how Fed policy is made, and why getting good data through Trulfation is so critical. Have a listen.
Truflation data elves were as busy as ever in July of 2023.
More than half a dozen new data feeds joined The Marketplace of True Data in time for businesses and investors to consider as global headlines raged.
War in Ukraine meant Russia suspending its Black Sea Grain Initiative participation, which appeared to have an impact across food-related futures, even Feeder Cattle, Rough Rice, and Oats – three recently added data trackers.
Oil prices reached monthly highs, causing new members in The Marketplace of True Data, Heating Oil, and RBOB Gasoline to reflect ongoing and fast-changing economic realities of tightening Atlantic supply and OPEC+ decision-making during a busy traditional travel season in the West.
Press mentions in July continued apace, with Truflation citations regularly on CNBC and popping up in influential podcasts such as All-In, ARK Invest, and Unchained, among many, many others:
Ethereum Community Conference 6 (EthCC), an annual gathering of the largest European Ethereum event focused on technology and community over four intense days of conferences, networking, and learning, featured Truflation and its CEO, Stefan Rust.
Post mortem is here.
Across the way and not to be outdone, Truflation Nation expanded into the vaunted London Business School. The occasion celebrated an ongoing and fruitful collaboration with Chainlink in the Web3 space.
Lots of great questions about startups and how to be ready for the already-happening Web3 future.
Call it Hot Data Summer! Call it, getting our immutable groove on! Call it beautiful. All and more of what data sleuths love now with slick packaging. Made you look.
In addition to the Danielle DiMartino Booth chat, Truflation Spaces hosted its regular Pre-BLS CPI talk. This month featured visionary Omar Yehia of zkSync and Matter Labs and the Truflation team and its analysis. Listen here.
Ahead of the FOMC and Fed Chair Powell presser, we got micro. Veteran trader and investor Jonah Lupton joined us to share insights on US central bank policy and how it impacts markets. We were also lucky enough to have Israeli Blockchain Association Executive Director Yosef Shaftal to give a global perspective. Archived here.
We were guests on the following podcasts: