A crypto market crash is now among the most likely economic shocks of the next 12 to 18 months, according to Moody’s Analytics.

Chief economist Mark Zandi shared the firm’s latest risk matrix on X, just two days before the Federal Reserve announces its Oct, 28 rate decision.

“The Fed won’t raise interest rates again when it meets this week, and it shouldn’t. The economy is threatened by a growing list of risks, and a Fed misstep is one of them,” Zandi wrote in his post.

What the matrix shows

The matrix ranks 27 potential shocks by how likely they are and how much damage they would do.

A crypto crash sits near the top of the probability scale, though Moody’s sees its hit to the wider…