NY Fed's Williams signals near-term room for rate cut

Friday, November 21, 2025 at 16:30 UTC+01:00 (+0100), United States, Santiago / Washington (remarks delivered at conference)

News category : Macroeconomic Events

At a public appearance on November 21, New York Fed President John Williams stated that, given signs of softening in labour market indicators, there remains room for an interest-rate reduction in the near term while still preserving the Fed’s inflation mandate. Williams’s comments contrasted with several other regional presidents who favoured caution, and they were read by markets as a signal that at least some policymakers view another easing step as feasible before year-end. The remarks immediately altered futures pricing and encouraged risk-on flows as traders increased the probability they attach to a December cut. Analysts noted the statement did not represent a definitive Fed decision but did broaden the range of credible policy outcomes in the coming weeks, increasing sensitivity of rates- and duration-sensitive instruments to incoming data.

Overall market impact

Strong bullish market impact - strength score : 85/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

To access impact scores per sectors and asset classes - you’ll need to subscribe to a membership

Impacted instruments :

US Treasury yields

USD FX pairs

Interest-rate futures

US large-cap equities

Short-term options

Discover Full Article Details and Insights with a Membership

To access the full article—along with in-depth analysis of how this event could impact the markets—you’ll need to subscribe to a membership. Our community of expert analysts will help you understand the implications clearly and provide relevant guidance to support your investment decisions.