Multiple banks expect the Federal Reserve to raise interest rates by 25 basis points in September, causing Bitcoin to fall back to $77000

Goldman Sachs, JPMorgan Chase, Bank of America, Morgan Stanley and more than 12 other banks expect the Federal Reserve to raise interest rates by 25 basis points on September 16th. The Chicago Mercantile Exchange's FedWatch tool shows that the probability of a rate hike in September is 87.3%, higher than the 61.9% at the end of August. The core consumer price index in the United States rose by 0.3% month on month in August, with market expectations of 0.2%. The current target range for the federal funds rate is 3.50% to 3.75%. HSBC expects the Federal Reserve to raise interest rates in September and December, while UBS expects a cumulative tightening of 50 basis points by the end of the year. The Federal Open Market Committee will begin its meeting on September 15th and announce its interest rate decision on September 16th. Bitcoin once broke through $79000 and then fell back to around $77000. (Source: Federal Reserve) AI interpretation: The month on month increase in core inflation exceeded market expectations, directly revealing the stubborn pressure of price recovery. This data completely shattered the illusion of rapid inflation decline, forcing the market to reprice the Federal Reserve's tightening path. Multiple banks collectively raised their expectations for interest rate hikes, clearly reflecting the inevitable trend of monetary policy tightening. The high interest rate environment will continue for a longer period of time, which poses a direct and heavy pressure on risk assets.