Goldman Sachs CEO David Solomon denied the view that the Federal Reserve will cut interest rates by 50 basis points in September, following a bold prediction made by Standard Chartered Bank.

"Whether or not we will have a 50 basis point cut, I think that may not be on the table," Solomon said in an interview with CNBC on Wednesday.

While the CME Group's FedWatch Tool shows that only 7.8% of market participants expect such a move at the Federal Reserve meeting on September 17, Standard Chartered recently raised its forecast to that level, citing a weaker-than-expected August jobs report, according to a Reuters report on Monday.

Crypto trader Mister Crypto posted on the X platform on Wednesday, stating, "If it really happens, cryptocurrencies will break previous all-time highs."

However, Solomon expects the Federal Reserve to follow the broader market consensus, with 92.2% of participants anticipating a smaller rate cut. "I am very confident we will have a 25 basis point cut," Solomon said.

"There is no doubt that when you look at the labor market, there is indeed some softness," he added.

Solomon anticipates there may be two more rate cuts this year, depending on macroeconomic conditions. "I think you might see one or two other cuts, depending on how the economic situation develops from here," he said.

This month's Federal Reserve interest rate decision meeting is significant not only for the broader market but also for cryptocurrencies, as lower rates reduce the attractiveness of traditional investments like bonds compared to riskier, higher-return assets.

However, sentiment platform Santiment recently warned that the surge in social media discussions surrounding the highly anticipated September rate decision could be a warning sign for cryptocurrencies.

"Historically, a massive surge in discussions around a single bullish narrative may indicate overly optimistic sentiment, potentially signaling a local top," Santiment stated on August 24.

Standard Chartered is not the only financial institution to recently revise its Federal Reserve rate cut predictions.

According to Bloomberg, Bank of America analysts reversed their long-held position of no rate cuts in 2025 and now predict two 25 basis point cuts, one in September and another in December.

Federal Reserve Chairman Jerome Powell hinted at a possible rate cut in September during his keynote speech at the Jackson Hole Economic Symposium in Wyoming on August 22.

Related: U.S. Senate Committee Advances Trump's "Crypto-Friendly" Fed Nominee

Original article: “Goldman Sachs CEO Questions 50 Basis Point Cut, Says It’s ‘Not on the Table’”

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