[Over 12 Banks, Including Goldman Sachs and JPMorgan Chase, Predict a 25 Basis Point Rate Hike by the Federal Reserve in September] Odaily Planet Daily News: Over 12 banks, including Goldman Sachs, JPMorgan Chase, Bank of America, and Morgan Stanley, predict that the Federal Reserve will raise interest rates by 25 basis points on September 16. The CME FedWatch tool shows that the market is pricing in an 87.3% probability of a rate hike in September, up from 61.9% at the end of August. The U.S. core Consumer Price Index for August rose 0.3% month-on-month, exceeding the market expectation of 0.2%. The current federal funds rate target range is 3.50% to 3.75%. HSBC expects the Federal Reserve to raise rates in both September and December, while UBS predicts a cumulative tightening of 50 basis points by the end of the year. The Federal Open Market Committee will begin its two-day meeting on September 15 and announce its rate decision on September 16. Bitcoin previously surged past $79,000 before pulling back to around $77,000. (Bitcoin.com News)