Did John Williams link bank failures to the pace of hikes?

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John Williams Identified Pace of Rate Increases as Primary Factor in Bank Failures

John Carroll Williams, president of the Federal Reserve Bank of New York, stated that the speed at which interest rates were increased was the primary reason behind the collapse of two banks in March. This assessment was made in the context of market anticipation for further rate hikes and the ongoing monitoring of economic data.
Williams' Statement on Rate Hikes and Bank Collapse

Williams explicitly linked the aggressive pace of rate increases to the failures of two financial institutions during March. His comments suggest a direct causal relationship between the Federal Reserve's monetary policy tightening and the subsequent bank stresses observed.
Market Anticipation of Further Rate Hikes

Following these statements and other hawkish signals from Federal Reserve officials, markets are anticipating an additional quarter-point increase in the Fed funds rate. This expectation is tied to the upcoming Federal Open Market Committee (FOMC) meeting scheduled for May 2-3.
Ringgit Performance Amidst Economic Factors

The Malaysian ringgit opened lower against the US dollar, influenced by a strengthening US Dollar Index (DXY) driven by rising US Treasury yields. The local currency is expected to remain soft and trade within a narrow range, despite commendable economic data points within Malaysia. Market participants are also closely watching the upcoming US Consumer Price Index (CPI) data, which is due for release on Wednesday.

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Did John Williams link bank failures to the pace of hikes?

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