Goldman Sachs delays its Fed rate-cut forecast to mid-2027 after May jobs data crushed estimates, raising rate hike odds to 20% and reshaping crypto

Citigroup's Andrew Hollenhorst maintains his forecast for three Fed rate cuts in 2026 despite May's 172,000 nonfarm payrolls beating all estimates.

May's 172,000 jobs surprise doubled forecasts, pushing Fed rate hike odds to 68% by December 2026 and wiping $390B from crypto markets.

Goldman Sachs revises forecast, no longer expecting Fed interest-rate cuts this year amid strong US job growth data.