Fed, John Williams
Digest more
3don MSN
One Fed official may have saved market from another rout. Why John Williams' remarks matter so much
With his position comes membership in the Fed's leadership troika, a group that also includes Chair Jerome Powell and Vice Chair Philip Jefferson.
Comments from a top U.S. Federal Reserve official on Friday that interest rates can fall "in the near term" boosted the likelihood of a rate cut at the Fed's December 9-10 meeting, even as other policymakers insisted borrowing costs should remain steady for now to ensure inflation declines in coming months.
Market participants now see 70% chance for a rate cut at the next Fed meeting, sharply up from 39% just a day ago, helping bitcoin pare some of the overnight losses.
The odds of a December rate cut has rebounded to 70% from as low as 35% earlier this week after Fed's John Williams remarks today.
New York Fed President John Williams said he fully supported the central bank’s two recent interest-rate cuts and signaled he could support another move “in the near term” to put rates closer to a neutral setting that neither spurs nor restrains the economy.
Federal Reserve Bank of New York president John Williams sees room to lower interest rates again in the near term as labour market softens, reviving investor expectations for a December rate cut.