Goldman Sachs now expects a Fed rate hike in October, not just September

The shift matters less for the September move than for what it implies about the Fed's reaction function: a second hike is now being framed as the faster route back to the 2% target, which suggests the bar for pausing has risen. For crypto and RWA markets, the relevant channel is the duration of restrictive policy rather than any single meeting, since tighter-for-longer expectations weigh on risk appetite and on the discount rates applied to yield-bearing tokenized assets. Whether other sell-side houses follow Goldman in adding an October hike is the open question.