Former New York Fed President’s Call to the FED: “150-200 Basis Points Rate Cut Should Be Made Urgently”
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Bill Dudley, former president of the New York Fed (2009-2018), called on the Fed to guide interest rates toward a neutral setting.
Dudley, who also chairs the Bretton Woods Committee and has served as a non-executive director at UBS since 2019, suggests that the FED should reduce interest rates by 150-200 basis points from current levels.
In a recent comment, Dudley noted the urgency of adjusting monetary policy, noting that the current tight stance is becoming increasingly restrictive as price and wage inflation moderates. “The longer you wait, the greater the potential for damage,” Dudley warned.
