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<ul>
 <li>Goldman Sachs lowered the U.S. recession odds to 20%.</li>
 <li>The investment giant predicts a 25-basis-point rate cut from the U.S. Federal Reserve.</li>
</ul>
Global investment giant Goldman Sachs Group, Inc. has lowered the probability of the U.S. entering a recession next year to 20% from its previous estimate of 25%.&nbsp;
The firm has <a href="https://x.com/GoldmanSachs" target="_blank" rel="noopener noreferrer nofollow">expressed</a> increased confidence that the U.S. Federal Reserve will reduce interest rates by 25 basis points at its <a href="https://thenewscrypto.com/can-a-fed-rate-cut-in-september-drive-a-bullish-crypto-move/" target="_blank" rel="noopener noreferrer nofollow">September policy meeting</a>. Further added, “another downside jobs surprise on September 6 could still trigger a 50 bps move.”&nbsp;
Previously in early August, Goldman Sachs economists raised their 12-month U.S. recession probability from 15% to 25% after the figures of U.S. July jobs reports revealed. If the August jobs report seems “reasonably good,” they would probably cut the recession probability back to 15%.
Furthermore, the investment giant’s&nbsp; chief U.S. economist Jan Hatzius noted, “Continued expansion would make the U.S. look more similar to other G10 economies, where the Sahm rule has held less than 70% of the time.”
Recently, Goldman Sachs revealed its <a href="https://thenewscrypto.com/goldman-sachs-discloses-significant-bitcoin-etf-holdings-in-q2-filing/" target="_blank" rel="noopener noreferrer nofollow">holding</a> of $418 million in Bitcoin exchange-traded funds (ETFs) in the second quarter in a Form 13F filing. Its largest BTC ETF position is in BlackRock’s Ishares Bitcoin Trust (IBIT), a 7 million share, or $238 million stake.&nbsp;
For Bitcoin (<a href="https://thenewscrypto.com/can-bitcoin-bulls-revisit-65k-before-the-end-of-august/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), the Fed’s lower interest rates weaken the dollar. On the other hand, if the rate cut is seen as a growing fear of an impending recession, it might lead to a more cautious market environment.&nbsp;
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Goldman Sachs Revises U.S. Recession Odds to 20%

TheNewsCrypto

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