Goldman Sachs has shifted its Federal Reserve forecast and now expects the central bank to raise interest rates by another 25 basis points in October, pointing to the Fed’s latest policy projections.

The bank had previously anticipated a September rate increase followed by a pause. Its updated forecast instead calls for another hike at the October meeting.

The change comes after the Fed raised its benchmark rate by 25 basis points on Wednesday, taking the target range to 3.75%–4.00%. The central bank’s latest projections indicated that a strong majority of policymakers expect at least one more rate increase this year.

Fed Chair Kevin Warsh also delivered a hawkish message during the post-meeting press conference. He said inflation remains “too high” and described the latest rate increase as removing a “dose of accommodation,” suggesting monetary policy may still not be restrictive enough.

Market participants are currently pricing a little over a 50% probability of another 25-basis-point increase in October, according to the CME FedWatch tool.

Bitcoin was trading near $76,260 at the time of writing, up about 0.5% over the previous 24 hours.