We are seeing US equities catching some nice bids after Fed's Williams said that they can still cut rates in the near term given the modestly restrictive policy.
The December rate cut odds jumped to roughly 60% after his dovish comments.
Fed's Williams is the President of the New York Fed and he is a permanent voter. Moreover, he's part of the so-called "troika" which includes the Fed Chair, the Vice Chair and the NY Fed President. In financial markets, these three are considered the most important members and their policy signals have more weight.
For example, if markets misunderstand the Fed's communication, one of those three is generally sent to correct the misunderstanding with scheduled or unscheduled speeches.
