Former NY Fed President Dudley urges a 50bp rate cut, citing current rates exceeding the neutral level.
Former New York Federal Reserve President Bill Dudley advocates for a 50 basis point interest rate cut, citing that current rates exceed the neutral level by 150-200 basis points. He previously urged the Fed to start cutting rates in July. Amid speculation over the upcoming decision, U.S. yields declined, and rates futures increased, reflecting uncertainty about whether the Fed will opt for a 25 or 50 basis point reduction next week.
September 13, 2024
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