Former New York Fed President Dudley: I changed my mind, the Fed should cut interest rates immediately
Former New York Fed Chair (with permanent voting rights on the FOMC, known as the "third in command" at the Fed) Dudley said: I have long been in the camp of "keeping interest rates high for longer", I believe that to control inflation, short-term interest rates must be kept at the current level or even higher. But times have changed, and the situation is different now, so I have changed my mind. The Fed should cut rates, preferably starting at the rate meeting next week
July 25th, Jinshi Data News: Former President of the Federal Reserve Bank of New York (enjoying permanent voting rights in the FOMC, known as the "third in command of the Fed") Dudley said: I have long been in the camp of "keeping interest rates high for a longer period of time". I believe that in order to control inflation, short-term interest rates must be kept at the current level or even higher. However, times have changed, and the situation is different now, so I have changed my mind. The Fed should cut interest rates, preferably starting at the interest rate meeting next week