Williams said he continues to believe that Fed policy is "well positioned" to achieve price stability. He strongly supported the FOMC's most recent policy decision and stressed that officials remain prepared to act if inflation fails to continue moving toward the central bank's objective. Williams maintained an optimistic view that inflation pressures will gradually ease over time. Williams emphasized that the Federal Reserve does not set policy with the objective of validating market expectations. While acknowledging that market pricing provides policymakers with valuable information about investor sentiment and economic expectations, he stated clearly that the Fed is not obligated to ratify the path implied by interest rate futures.