Fed's Williams says US economy remains resilient, appropriate time to gather more information

New York Fed President John Williams stated that the US economy remains resilient and that it is an appropriate time for policymakers to gather more information before making further policy decisions. The remarks signal a patient, data-dependent stance: by framing the current moment as one for information-gathering rather than action, Williams reduces the near-term likelihood of signaling an imminent policy move, which tends to compress expectations for rate changes and flatten the front end of the Treasury curve. The transmission runs primarily through rate expectations and the US dollar, as shifts in perceived policy path alter yield differentials against major trading partners and feed into risk appetite for rate-sensitive assets such as long-duration Treasuries, growth equities, and rate-sensitive currencies. Short-term Treasury yields and federal funds futures are most directly exposed, while the dollar index and two-year yields are likely to react first to any change in the market's pricing of Fed cuts. Traders will focus on the next Personal Consumption Expenditures inflation release and the upcoming nonfarm payrolls report, as these will determine whether the "gather more i

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