Goldman Sachs withdraws forecast for Fed rate cut this year

Goldman Sachs has completely withdrawn its forecast for a Federal Reserve rate cut this year, citing stronger-than-expected U.S. employment data for May, Crypto Briefing reported. The bank has postponed its projection for the first rate cut to June 2027. The outlet added that such a prolonged high-interest-rate environment could shrink liquidity across financial markets, potentially putting downward pressure on risk assets, including cryptocurrencies and DeFi protocols.