A new measure of inflation might shave as much as 0.4 percentage points off of core personal consumption expenditures (PCE), Tom Lee said. The shift, due out Sept. 30, could signal the Fed hiked rates too soon, he said, adding a switch to neutral policy is good for Bitcoin (BTC).

Lee told CNBC on Friday that the government will publish a new way of calculating the personal consumption expenditures price index on September 30. That index, known as PCE, is the inflation gauge the Federal Reserve watches when it sets interest rates.

Could Inflation Fall Enough To Make The Fed Less Hawkish?

Lee said the change alone could take 0.2 to 0.4 percentage points off the annual reading. That would pull core PCE, which leaves out food and energy…