Goldman Sachs, Bank of America delay Fed cut forecasts after jobs data

Goldman Sachs and Bank of America have postponed their projections for Federal Reserve interest rate cuts, citing an unexpectedly strong April jobs report. The US economy added 275,000 jobs, exceeding forecasts and reducing the Fed's urgency to ease monetary policy. Goldman Sachs now anticipates the first rate cut in December 2026, while Bank of America is more hawkish, expecting no cuts in 2026 and only two in mid-2027. This delay, coupled with rising oil prices and inflation pressures, creates a challenging environment for risk assets like Bitcoin, as higher yields on safe assets increase the opportunity cost of holding volatile cryptocurrencies. Despite this short-term caution, institutions like Goldman Sachs continue to explore blockchain technology, indicating a long-term bullishness on the technology itself.

(Source：Crypto Briefing)