Major banks expect a 25 bps Fed rate hike on Wednesday
- —Nine major banks, including JPMorgan and Goldman Sachs, expect a 25 bps rate hike
- —CME FedWatch: hike probability rose to 87.3% from 61.9% in late August
- —Core inflation rose 0.3% m/m in August versus a 0.2% forecast, PCE at 3.7%
- —Bitcoin below $80,000 after a brief break of $79,000 and $100 million in short liquidations
Why it matters: A rate hike is largely priced in, but a surprise could trigger a new wave of liquidations in crypto.
Source: Crypto Economy