According to @StockMKTNewz, New York Fed President John Williams said the Fed can still cut rates in the near term because current policy is modestly restrictive. Source: @StockMKTNewz. A dovish pivot that lowers policy rates typically eases financial conditions, supporting risk assets like equities and crypto by reducing discount rates. Source: Federal Reserve Board, Monetary Policy Report (June 2023). For trading, watch a decline in the US 2-year Treasury yield and a softer DXY as confirmation signals that often coincide with strength in BTC and ETH. Source: Federal Reserve Board, Monetary Policy Report (June 2023).

According to @business, Federal Reserve President John Williams said financial strain among lower and middle-income Americans could threaten the US economy’s resilience even as wealthier households benefit from a stock market boom (source: Financial Times as cited by Bloomberg/@business). Bloomberg also relayed that the Financial Times characterized Williams’s outlook as a balancing act for the next rate meeting (source: Bloomberg link text citing Financial Times via @business).