The remarks were made on September 29 and clarify the central bank's view on current bond market volatility. Williams stated that while financial conditions are now more restrictive, long-run inflation expectations have not shifted.
Wednesday, October 21, 2026
Story
US Markets21 days ago
John Williams of the Federal Reserve stated that higher government bond yields indicate that financial conditions have tightened at the margin. He noted that these market movements should not be interpreted as a change in the broader outlook for long-term inflation.

The remarks were made on September 29 and clarify the central bank's view on current bond market volatility. Williams stated that while financial conditions are now more restrictive, long-run inflation expectations have not shifted.
Tilt chat provides reliable, tailored insights, alerts, and automations.
SPY
State Street SPDR S&P 500 ETF Trust
How we got here
Possible scenarios
Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.