John C. Williams

Um, I think markets are pricing one more.

On the other hand, the New York Fed President John Williams, uh, said this week there was no urgency, uh, to hike again, uh, and that the Fed has time to gather information.

So let's just start with the immediate question: What do you think the committee will do in October, and what should it do?

Thank you both for having me.

Yeah, but, but would pausing right before the midterms be perceived as political?

I think it would be perceived broadly as prudent, to use a Bushian term.

Um, because they've already, to Chair Warsh and the committee's credit, shown some independence from President Trump by hiking even though he very loudly said he didn't want them to.

So I think that buys them space.

And Reuters has a fresh read on it.

Traders cut their bets on an October hike after New York Fed President John Williams said he saw no urgency to follow September's increase.

No urgency.

Deadpan, that central banker for please stop calling me.

That's despite the fact that since yesterday, the market has actually slightly revised down its expectations for Fed rate hikes after the Fed's favourite measure of inflation, PCE, came in a bit below expectations yesterday.

And the New York Fed's John Williams said he saw no urgency to hike.

But that's not helped the bond market, has it?

It hasn't, and it is a very worrying thing.

The Fed raised rates in September for the first time in three years and flagged further increases in borrowing costs in the months ahead.

The odds of an October rate hike were also diminished by New York Fed President John Williams' comments on Tuesday that he saw no urgency for further action.

And earlier, I spoke with David Chung, director at Assure Capital, to get his take on the latest set of U.S. inflation numbers and what they mean for the Federal Reserve.

I think the key takeaway is that this is clearly a better inflation number than what the market had feared, but it's definitely not an all-clear signal for the Federal Reserve.

New York Fed Chief says area has a lot to build on.

As Western New York struggles to regain its economic momentum from the pandemic, John Williams thinks the region should capitalize on what it has to attract more workers.

Clearly, here in Buffalo, it's actually a major metropolitan area, he said.

It has a lot of advantages of a major metropolitan area in terms of hospitals, education, in terms of entertainment.

A top Federal Reserve official suggested Tuesday that the central bank could wait until December before raising interest rates again, pushing back against market bets on a follow-up increase next month.

The remarks from New York Fed President John Williams carry particular weight because as vice chair of the Fed's Rate Setting Committee, he has typically sought to reflect the views of the committee's center of gravity rather than stake out his own position.

Inflation remains too high and another rate increase late this year might be appropriate, Williams said.

But for now, the Fed can likely take time to review additional data before tightening policy further, he said.

But that 70 to 50 percent is Williams.

John Williams, the head of the Federal Reserve Bank of New York.

All reserve banks are not all equal.

New York is the biggest, most important.

Notably, the Fed views this outcome as less desirable than failing on its price stability mandate, one of several reasons why we believe paradigm D, aka default via debasement, is a high probability outcome.

To this point, New York Fed President John Williams, vice chair of the FOMC, gave his prepared remarks on Tuesday afternoon that were supportive of our view that greater coordination between the Fed and Treasury to counter the geopolitically driven supply demand imbalance in the Treasury bond market is on the way.

As we discussed throughout the monetary policy, fiscal policy and liquidity sections of our September 2026 macro scouting report a few weeks ago, are increasingly of the view that the fed is deliberately holding the policy rate in increasingly accommodated territory precisely to agitate the u.s treasury bond market now why would they be doing that well this short-term pain for long-term gain outcome would give treasury secretary scott besant fed chair kevin warsh and new treasury consultant david zervos who was long a big proponent of qe the political air cover they need to usher in the Fed Treasury Accord 2.0 and the coordinated policy intervention that it entails.

Remember, the Fed does not have a dual mandate contrary to popular narratives.