Goldman Sachs now anticipates two interest rate cuts by the U.S. Federal Reserve in the upcoming year, revising its initial forecast to include a reduction as early as the third quarter due to subsiding inflation, according to Reuters. This shift in monetary policy could significantly impact Bitcoin, known for its resilience against economic fluctuations.
In light of Goldman Sachs’ projection, the anticipated decrease in the Federal Funds Rate to 4.875% by the end of 2024, from the earlier forecast of 5.13%, suggests a more accommodative monetary policy than previously expected. Despite robust U.S. labor market data, the focus has shifted towards cooling inflation rates, sparking speculation of earlier-than-expected rate cuts. As per Goldman Sachs economist Jan Hatzius, the improved inflation outlook may hasten the transition to normalization cuts, although the Federal Open Market Committee might remain cautious in adjusting their forecasts.
For Bitcoin, these developments hold parti
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