Fed's Williams: Inflation, Interest Rates, Bank Failures, and the Dollar - A Summary.

New York Fed President John Williams said the Federal Reserve has work to do bringing down inflation given a labor market that remains "quite strong." The Fed has penciled in one more quarter-point rate hike this year, bringing rates into to a range of 5-5.25% before hitting the pause button. Williams said this outlook will depend on the data. Markets are currently pricing in a roughly 70% chance rates rise next month, but expect at least two rate cuts will be warranted by the end of this year according to data from CME Group.