Former New York Fed President: The Fed should cut interest rates immediately
Odaily Odaily reported that Dudley, former chairman of the New York Federal Reserve, wrote that he has long been in the camp of "maintaining high interest rates for a longer period of time", believing that short-term interest rates must be kept at or above the current level to control inflation. But changes in circumstances have changed his mind. He now believes that the Fed should cut interest rates, preferably starting at the interest rate meeting next week.
