The Minutes of John Williams on interest rates https://minutesof.com/john-williams/on/interest-rates/ Everything John Williams has said on interest rates: 2 verbatim quotes, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:23:04 +0000 Williams reports Treasury repo rates fell 15 basis points below IORB in mid-May, causing two basis point EFFR https://minutesof.com/q/f9727a72-a98f-4803-a265-497c78c476db/ https://minutesof.com/q/f9727a72-a98f-4803-a265-497c78c476db/ “Treasury repo rates later notably declined, falling as low as 15 basis points below the interest rate on reserve balances (IORB) in mid-May, though they have since rebounded.” — NY Fed speeches interest rates Williams says immediate recognition of productivity shifts produces trivial inflation effects below 0.1 percen https://minutesof.com/q/eca4b5aa-6f50-49e9-b602-dacfce66e159/ https://minutesof.com/q/eca4b5aa-6f50-49e9-b602-dacfce66e159/ “Indeed, with immediate recognition (not shown), the depressing effect on the inflation rate is trivial, less than one tenth of a percentage point.” — NY Fed speeches interest rates