Fed’s Williams says inflation stubbornly high and Fed still has work to do on policy
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Williams’ remarks support pricing for a December hike and the dollar’s rate advantage, keeping front-end Treasury yields firm. His emphasis on acting “over time” and on a steady, data-led approach suggests no urgency for a half-point move, which may limit how far bets on a larger
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Lead — The desk interprets John Williams' recent remarks as a signal of cautious optimism regarding inflation, with longer-term expectations remaining stable despite near-term pressures. Per the full note [source], Williams emphasized that the labour market is not currently a source of inflationary pressure, which supports the Fed's current stance of watchful patience. This aligns with our consensus target of 1.075 for the USD/EUR pair, as traders await clearer signals from the Fed. The upcoming economic data releases may provide further clarity on inflation trends.
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