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Williams Doesn't Give Much To Go On In Prepared Remarks

FED
  • Not much to go on from Williams’ prepared remarks although on net probably quite balanced for someone typically at the dovish end of the FOMC spectrum.
  • Still open-ended on credit conditions. “I will be particularly focused on assessing the evolution of credit conditions and their effects on the outlook for growth, employment, and inflation" vs Apr 20: “I will be closely monitoring the evolution of credit conditions and their potential effects on the economy.”
  • 2Y Tsy yields hold the day’s increase to ~4.03% for +3bps on the day.
  • Full speech here: https://www.newyorkfed.org/newsevents/speeches/2023/wil230509


Other Bloomberg headlines
*FED’S WILLIAMS SAYS WILL MONITOR THE `TOTALITY OF THE DATA’

*WILLIAMS SAYS ASSESSING CREDIT CONDITIONS AND IMPACT ON ECONOMY

*FED'S WILLIAMS SEES MODEST US ECONOMIC GROWTH THIS YEAR

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