A post by @FirstSquawk on X.

New York Fed President John Williams said monetary policy effects take one to two years to fully work through the economy, arguing policymakers must focus on future conditions rather than current data. The remark signals the Fed is weighing lagged transmission of past rate moves as it considers the path for rates. It matters because investors are parsing Fed commentary for timing clues on easing, and Williams’ framing suggests a forward-looking stance. Watch upcoming Fed speeches and economic data for confirmation of how officials weigh delayed policy effects.