New York Fed President John Williams said U.S. inflation is still "far above" the 2% target and pushed his convergence timeline back to 2028 from "next year." Chicago Fed President Goolsbee also said core inflation is moving in the wrong direction, with 9 of 19 FOMC officials still projecting at least one more hike.
Matters because: The macro headwind for crypto may last longer than markets had priced in if Fed officials stay this hawkish.