More than 12 banks, including Goldman Sachs and JPMorgan, expect the Fed to raise rates by 25 basis points in September

Odaily reports: More than 12 banks, including Goldman Sachs, JPMorgan, Bank of America, and Morgan Stanley, expect the Federal Reserve to raise interest rates by 25 basis points on September 16. The CME FedWatch tool shows that market pricing puts the probability of a September rate hike at 87.3%, up from 61.9% at the end of August.The U.S. core consumer price index rose 0.3% month-over-month in August, versus market expectations of 0.2%. The current federal funds rate target range is 3.50% to 3.75%. HSBC expects the Fed to raise rates in both September and December, while UBS expects a cumulative 50 basis points of tightening by year-end.The Federal Open Market Committee will begin a two-day meeting on September 15 and will announce its rate decision on September 16. Bitcoin previously briefly broke above $79,000 before falling back to around $77,000. (Bitcoin.com News)