Citigroup delays first Federal Reserve rate cut forecast to June 2027 after strong jobs data
Citigroup moved its first projected Federal Reserve rate cut to June 2027 after August payrolls of 162,000 beat the 53,000 forecast; Bitcoin recovered above $86,000 after falling below $80,000.
Why it matters
The revised schedule extends the higher-for-longer borrowing-cost outlook described by Crypto News, with the first projected cut in June 2027 rather than October and December 2026 or January 2027. Bitcoin moved from below $80,000 to above $86,000, and Crypto News linked the recovery to ETF inflows and short covering.
Key facts
Citigroup now expects the Federal Reserve's first rate cut in June 2027.
Reported by Crypto.News
Citigroup's earlier schedule called for cuts in October and December 2026 and January 2027.
Reported by Crypto.News
U.S. employers added 162,000 jobs in August, compared with economists' expectations of 53,000.
162,000 jobsReported by Crypto.News
Bitcoin Insider said the strong jobs report shifted expectations that had favored earlier and more frequent rate cuts, while economists remained divided on labor-market durability.
Reported by Bitcoin Insider
Bitcoin fell below $80,000 after the jobs data.
80,000 USDReported by Crypto.News
Bitcoin later climbed above $86,000.
86,000 USDReported by Crypto.News
Crypto News reported that $433 million in ETF inflows on September 18 and short covering helped Bitcoin recover.
433,000,000 USDReported by Crypto News (CryptoNews.net)
CoinGape reported that Rob Kaplan said markets were pricing more tightening than warranted, one more Federal Reserve hike was possible and a pause remained an option.
Reported by CoinGape
What happened
Crypto.News, citing Reuters, reported that Citigroup now expects the Federal Reserve's first rate cut in June 2027, replacing its earlier calls for cuts in October and December 2026 and January 2027. Bitcoin Insider said the stronger-than-expected jobs report shifted market expectations, which had favored earlier and more frequent rate cuts through 2026, while economists remained divided on labor-market durability. Crypto.News and Crypto News reported August payroll growth of 162,000 against an economist forecast of 53,000. CoinGape later reported that Goldman Sachs Vice Chairman Rob Kaplan said markets were pricing more tightening than warranted and that one more Federal Reserve hike was possible; it also reported that a pause remained an option. Crypto News reported that Bitcoin fell below $80,000 after the jobs data and later climbed above $86,000. Crypto News attributed the recovery to $433 million in ETF inflows on September 18 and short covering.
How the story developed
- First report
First report by Crypto.News
Citi sees no Fed rate cuts until June 2027, crypto in trouble?
- Update
August payrolls exceed forecasts
U.S. employers added 162,000 jobs, compared with the 53,000 expected.
- Update
Citigroup moves first-cut forecast to June 2027
Crypto.News, citing Reuters, reported the revised schedule after August payrolls exceeded expectations.
- Update
Bitcoin reverses after jobs data
Bitcoin fell below $80,000 and later climbed above $86,000.
- Independent corroboration
Independently corroborated by CoinGape
Goldman Sachs Explains Why More US Fed Rate Hikes Are Unlikely
- Update
Goldman Sachs discusses another hike and a pause
CoinGape reported that one more Federal Reserve hike was possible while a pause remained an option.
- Update
Federal Reserve raises benchmark rate
Crypto News reported an increase of 25 basis points on September 16, 2026, the Federal Reserve's first hike since July 2023.
- Update
Bitcoin receives ETF inflows
Crypto News reported ETF inflows of $433 million on September 18 and said short covering also helped Bitcoin recover.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 24 Sept 2026, 07:55 UTC: Crypto.News — 1 independent source, 1 reports
- 24 Sept 2026, 14:16 UTC: CoinGape — 2 independent sources, 3 reports
- 24 Sept 2026, 19:13 UTC: Crypto News (CryptoNews.net) — 3 independent sources, 4 reports
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto.News Crypto media | Citi sees no Fed rate cuts until June 2027, crypto in trouble? | Original | |
| CoinGape Crypto media | Goldman Sachs Explains Why More US Fed Rate Hikes Are Unlikely | Independent | |
| Crypto News (CryptoNews.net) Aggregator | Citigroup delays Fed rate cut forecast to June 2027 after jobs surprise | Syndicated | |
| Bitcoin Insider Aggregator | Citi Pushes Back Fed Rate Cut Forecast to June 2027, Raising Questions for Crypto | Aggregated |
Related events
Goldman Sachs says S&P 500 breadth is weakest since the Dot-com era
Finbold reported that Goldman Sachs told clients the S&P 500 has its weakest breadth since the Dot-com era, with the median stock 16% below its 52-week high.
Federal Reserve's September rate hike holds QQQ below its $748.65 high as yields climb
Blockchain.News reports the Fed's September hike left QQQ stuck under its $748.65 52-week high while the 10-year Treasury yield pushed back above 5%.
US Treasury Sanctions Iranian Exchange BitBank Over Bitcoin Transfers to IRGC
The US Treasury sanctioned Iranian crypto exchange BitBank, its software developer and three associates, alleging it moved hundreds of millions of dollars in bitcoin to Iran's IRGC.
Green Dot Bank Tightens Apple Cash ID Rules From Nov. 9 and Keeps Its Crypto Transaction Ban
Apple told users that from Nov. 9 unverified Apple Cash accounts cannot reload balances, while Green Dot Bank's ban on cryptocurrency transactions stays in its updated terms.
Older Layer-1 Tokens Outperform as Polkadot Stablecoin Vote Advances
Layer-1 tokens launched before 2018 rallied while Bitcoin and Ether fell, with Polkadot's stablecoin proposal receiving 97.5% support in an OpenGov vote.
Strategist Henrik Zeberg forecasts one more Big Tech rally before a sharp reversal
Finbold reported that macro strategist Henrik Zeberg expects one more Big Tech rally, to 37,000-39,000 on the Nasdaq 100, before a fall toward 2022 lows near 10,600.