New York Fed President John Williams said on September 29 2026 that there was no need for urgency on further tightening, while still expecting one more hike late this year - read as December rather than October. CME FedWatch odds of an October hike fell from about 70% earlier that week to 50% after the remarks and to about 35% after the next day's PCE release. As New York Fed president, Williams is the Committee's vice chair, so the remark carries the weight of the leadership rather than of a single dissenter.