According to CME "FedWatch," there is a 1.6% probability that the Federal Reserve will raise interest rates by 25 basis points in April, while the probability of keeping rates unchanged is 98.4%.
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Fed’s No. 3 Official Turns Hawkish: Inflation Remains Too High, Action Needed to Bring It Back to 2% Promptly
Over time, action needs to be taken to ensure that inflation falls back to the 2% target in a timely and sustained manner. Williams' statement is more explicit than before; previously, he indicated his support for the Federal Reserve to first gather information before determining its policy stance, but this speech further supplements with a clear signal that "further action is necessary."
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