The Minutes of John Williams on hedging https://minutesof.com/john-williams/on/hedging/ Everything John Williams has said on hedging: 2 verbatim quotes, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:23:02 +0000 Williams argues dollar weakness reflected hedging mechanics rather than fundamental reassessment of U.S. asset https://minutesof.com/q/fc3384c8-3342-4dd6-bb41-8ecbcdc41d64/ https://minutesof.com/q/fc3384c8-3342-4dd6-bb41-8ecbcdc41d64/ “Understanding this distinction is critical because it suggests that the dollar's weakness stemmed largely from the mechanics of how hedging flows transmit through the FX market, rather than from a sudden shift in asset allocation.” — NY Fed speeches hedging Williams says recent evidence suggests hedging activity driving dollar weakness may have plateaued. https://minutesof.com/q/f697e83f-438b-4f9c-b085-5e953499f2a6/ https://minutesof.com/q/f697e83f-438b-4f9c-b085-5e953499f2a6/ “Recent evidence suggests this hedging activity may have plateaued, but it reinforces the need for consistent engagement with market participants to better understand shifts in trading activity that can have broader implications for the value of a currency and the FX market in general.” — NY Fed speeches hedging