# CPI Upends Rate Reckoning, CME BTC Vol. Futures Go Live in June, CLARITY Markup Moves Forward Page: https://stenobird.com/podcast/cfb-talks-digital-assets-6596525/cpi-upends-rate-reckoning-cme-btc-vol-futures-go-live-in-june-clarity-markup-moves-forward Text version: https://stenobird.com/podcast/cfb-talks-digital-assets-6596525/cpi-upends-rate-reckoning-cme-btc-vol-futures-go-live-in-june-clarity-markup-moves-forward.md Podcast: [CFB Talks Digital Assets](https://stenobird.com/podcast/cfb-talks-digital-assets-6596525) Published: 2026-05-15T11:47:42+00:00 Episode link: https://rss.com/podcasts/cfb-talks-digital-assets/2828042 Audio file: https://content.rss.com/episodes/213732/2828042/cfb-talks-digital-assets/2026_05_15_11_42_29_8a1393be-8f79-4dd8-84f4-5c95b3862b28.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/cfb-talks-digital-assets-6596525/episodes/cpi-upends-rate-reckoning-cme-btc-vol-futures-go-live-in-june-clarity-markup-moves-forward Duration seconds: 3475 ## Resource This episode was recorded live via X Spaces - audio quality varies in places. In this week's CF Benchmarks live X Space, recorded May 14, 2026, the team unpacks a packed week for macro, policy and market structure: a hot CPI print that flips rate-cut expectations on their head; the CLARITY Act clears the Senate Banking Committee with bipartisan support; Kevin Warsh's narrow confirmation as Fed Chair designate; and CME announces Bitcoin Volatility futures will launch on June 1. Join Head of Research Gabe Selby, CFA, Research Analyst Mark Pilipczuk, Kraken Chief Economist Thomas Perfumo, CFA, and - for a special deep dive on CME's watershed product launch - CF Benchmarks Senior Product Manager Xin Wang. Chapters: 00:00 – Intro & Team Welcome 00:53 – Hot CPI Print: 3.8% YoY & The Rate Hike Pivot 03:25 – PPI Confirms The Trend: Sharpest Print Since March 2022 05:25 – Market Impact: S&P at All-Time Highs, 10-Year Tops Year-to-Date 07:00 – CLARITY Act Markup: Today's Pivotal Senate Banking Vote 09:35 – GENIUS Act as the Analog: Why CLARITY Matters 11:57 – Calendar Risk: Beating the Midterm Clock 13:06 – Warsh Confirmed 54-45 — But Powell Stays Until 2028 18:46 – The Real Story: A Divided Fed Board, Not a Puppet Chair 21:00 – Bitcoin at $81K & The 200-Week Moving Average in Focus 24:26 – ETF Bid Support: Stairs Up, Elevator Down? 27:05 – Stagflation Tilt: GDPNow & Decelerating Growth 28:20 – Ether's Relief Rally: Catch-Up Trade or Real Move? 31:03 – Altcoin Leadership: AI & Compute Tokens Take the Lead 34:51 – CME Launches Bitcoin Vol. Futures June 1: a Watershed Moment 36:33 – Inside BVX/BVXS: 30-Day Forward Vol. on CME Bitcoin Options 39:18 – Is BVX the "VIX of Bitcoin"? Similarities & Differences 41:40 – Vol. as Feature, Not Bug: How Practitione… ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/cfb-talks-digital-assets-6596525/episodes/cpi-upends-rate-reckoning-cme-btc-vol-futures-go-live-in-june-clarity-markup-moves-forward/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/cfb-talks-digital-assets-6596525/cpi-upends-rate-reckoning-cme-btc-vol-futures-go-live-in-june-clarity-markup-moves-forward.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.