Goldman Sachs Sees September Fed Hike as Very Unlikely, Lifting Bitcoin Near $63,600
Updated
Updated · CoinDesk · Aug 17
Goldman Sachs Sees September Fed Hike as Very Unlikely, Lifting Bitcoin Near $63,600
3 articles · Updated · CoinDesk · Aug 17
Summary
Goldman Sachs said a September Federal Reserve rate increase is “very unlikely,” arguing recent data make further tightening improbable.
Soft retail sales, weaker employment figures and slowing inflation drove the call, with chief economist Jan Hatzius saying inflation is more likely to keep improving and markets remain too hawkish on rates.
CME FedWatch showed traders pricing just a 30.6% chance of a 25-basis-point hike to 3.75%-4%, with those odds falling after last week’s July inflation report.
Bitcoin rose about 1% to roughly $63,500-$63,600, though it has stayed stuck in a $62,000-$66,000 range since early July as investors weigh the Fed path.