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Goldman Sachs has revised its inflation outlook, predicting the core PCE index will rise to 3.5% this year, and anticipates three interest rate cuts by the Federal Reserve in the latter half of 2024. This forecast could positively impact the crypto market, as historically, rate cuts have boosted risk assets like cryptocurrencies. Currently, Bitcoin is down 1.81% to $81,985, with major tokens like XRP and Cardano's ADA experiencing losses exceeding 7%.
Goldman Sachs has revised its inflation outlook, predicting the core PCE index to rise to 3.5% this year, and anticipates three interest rate cuts by the Federal Reserve in the latter half of 2024. This bullish stance could positively impact the crypto market, as lower borrowing costs typically boost risk assets like cryptocurrencies. Currently, Bitcoin is down 1.81% to $81,985, with major tokens like XRP and Cardano's ADA experiencing significant losses.
Commerzbank has raised its USD/TRY forecast to 42 by the end of 2025 and 46 by 2026, citing escalating political tensions in Türkiye, particularly a corruption probe involving Istanbul's mayor. The Turkish lira recently fell over 12% amid market instability, prompting central bank interventions. Analyst Tatha Ghose warned that ongoing political strife could lead to further depreciation of the lira, exacerbating inflation and straining international relations.
Goldman Sachs has raised the odds of a US recession to 35% within the next year, citing escalating tariffs from Trump's trade war as a key factor. The bank also increased its inflation forecast and adjusted its GDP growth estimate for 2025 to just 1%, while predicting a rise in the unemployment rate to 4.5%. Consumer confidence has significantly declined, with many Americans anticipating higher unemployment, as the administration's aggressive tariff policies continue to unfold.
Goldman Sachs has revised its S&P 500 target downward, reflecting a growing concern over stagflation and an increased risk of recession. This shift indicates a more cautious outlook for the market as economic challenges persist.
Goldman Sachs warns that President Trump's upcoming tariffs could lead to increased inflation and a higher risk of recession, raising its year-end core PCE inflation forecast to 3.5% and predicting a 35% chance of recession within the next year. The Dow Jones fell 716 points amid concerns over the economic impact of these tariffs, which may provoke retaliatory measures from trading partners.
Russia faces a growing budget deficit due to a strong ruble and low oil prices, prompting potential borrowing beyond planned levels. Despite hopes for improved geopolitical relations, energy revenue declines and military spending pressures complicate fiscal stability, with the National Welfare Fund becoming a key funding source. The government maintains low public debt, allowing for increased borrowing, while officials assert that budget financing remains unaffected by exchange rate fluctuations.
Russia faces a widening budget deficit due to a strong ruble and low oil prices, with estimates suggesting it could reach 1,500 billion rubles this year. Despite a low public debt of 14.5% of GDP, the government may need to increase borrowing or tap into fiscal reserves as energy revenues decline. The geopolitical landscape remains volatile, complicating fiscal planning.
Britain's Prudential Regulation Authority has proposed increasing the deposit protection limit for savers from £85,000 to £110,000 in the event of a bank failure. This change aims to enhance financial security for consumers, reflecting the evolving economic landscape. The current limit has been in place since 2017.
Gold prices have surged past $3,100 per ounce, reaching a record high of $3,122.22, driven by concerns over U.S. tariff policies and geopolitical tensions. Goldman Sachs now forecasts gold could hit $3,300 by year-end, with a hypothetical extreme scenario suggesting prices could soar to $4,500 within the next 12 months. This potential increase highlights the significant demand for gold as a safe-haven asset amid economic instability.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
goldman sachs predicts fed rate cuts boosting potential for cryptocurrency market
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