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Ad Home / Crypto News / Goldman Sachs Pushes Second Rate Hike Forecast to December After Soft PCE Inflation Data Goldman Sachs Pushes Second Rate Hike Forecast to December After Soft PCE Inflation Data 30 Sep, 2026 By Boluwatife Adeyemi Boluwatife Adeyemi
Expertise : Crypto, Stocks, Tokenization, AI, Prediction Markets, Crypto Regulation Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Goldman Sachs has pushed its forecast for a second Fed rate hike to December after soft August PCE inflation data. The bank also cited New York Fed President John Williams’ comments as the reason for this move, while they ultimately believe that the Fed may deem a second hike this year unnecessary
In a research note, Goldman Sachs said an October hike is now unlikely based on today’s inflation report, as they now expect 3% growth in PCE on a Q4-to-Q4 basis, well below the median FOMC participant’s forecast of 3.4%. The bank also cited John Williams’ comments signaling no urgency to raise rates as another reason for this view
As CoinGape reported, August PCE inflation data came in below expectations, easing fears of a second Fed rate hike next month. The Fed notably raised rates for the first time since 2023 at the September FOMC meeting, citing rising inflation tied to Middle East uncertainty
Middle East uncertainty persists, and talks to end the U.S.-Iran war have yet to yield positive results. However, Goldman Sachs said it sees a strong chance the Fed will conclude that additional hikes are unnecessary
This comes just a day after Fed Board Governor Michael Barr said that more rate hikes may be necessary to bring inflation down to their 2% target in a timely fashion. He also warned that the upside risks to inflation have increased, signaling that they needed to act quickly and decisively
The Fed is now expected to hold rates steady following today’s PCE inflation report. Data from the top crypto prediction market platform Polymarket shows only a 32% chance of a 25 bps Fed rate hike, down from as high as 70% last week
Meanwhile, there is a 64% chance that the Fed will hold rates steady despite inflation concerns. Bitcoin and the broader crypto market rebounded today on the back of the PCE data, as the Fed potentially holding rates steady rather than hiking represents a positive for risk assets
The employment report released this Friday will be the next macro data point the market turns to ahead of the October FOMC meeting. A reading showing that the labor market remains solid could strengthen the case that the FOMC is in a good position to make more Fed rate hikes
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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