'No need for urgency': Fed's Williams suggests October rate hike not a done deal
“With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” said Federal Reserve Bank of New York President John Williams on Tuesday afternoon.
His base case, he said, would be for just one more rate hike this year.
Williams’ remarks are landing on short-term rate markets, sending the two-year Treasury yield down to 4.88% from as high as 4.96% earlier on Tuesday. October rate hike odds have dipped to just 51% from 70% one day ago.
Bitcoin and stocks aren’t really reacting, both continuing with modest losses for the day.