Goldman Sachs Turns to Forecast of October Fed Rate Hike; Bitcoin Holds Near $76,000

Forecast Trend Report by Period

Goldman Sachs has reversed its earlier forecast that the Federal Reserve would pause after a September rate increase and now expects another hike in October.

CoinDesk reported on September 17 that Goldman Sachs projects the Fed will raise its benchmark interest rate by an additional 0.25 percentage point in October. The bank had previously expected the Fed to hold rates steady after a September increase.

The Fed lifted its benchmark rate by 0.25 percentage point to 3.75% to 4.00% at the Federal Open Market Committee meeting the previous day. It marked the first rate increase since 2023.

The revised forecast appears to reflect the Fed's hawkish signal. In the rate projections released by the central bank, a majority of policymakers expected at least one additional increase this year.