Live markets: Samsung earnings miss sparks uncertainty as bitcoin dips below $64,000
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- John Williams said monetary policy is "in a good place" during a Tuesday morning Fox News appearance and indicated he isn't considering a rate hike at the Fed's July policy meeting
- Williams acknowledged inflation remains high but said the recent retreat in energy prices should drive a decline in headline numbers
- Williams stated the inflationary effect of tariffs is "close to topping out"
- Markets had already largely ruled out a July rate hike before Williams spoke, so his comments had minimal additional impact on trading
- The odds of a Fed tightening move by the September meeting remain close to 60%, per market pricing cited in the report
Why it matters: With a July hike essentially off the table, the next inflection point is the September meeting, where markets still price a roughly 60% chance of tightening — meaning energy price trends and the fading tariff-inflation pass-through are the two data points that will determine whether that probability shifts higher or lower over the summer.
