Dudley Sees Too High Joblessness as More Bond Buying Weighed

Dudley Sees Too High Joblessness as More Bond Buying Weighed

Andrew Harrer/Bloomberg

Lawmakers must address the so-called fiscal cliff or risk an economic contraction that is “likely to be larger than normal when monetary policy is operating at the zero lower bound for interest rates,” Federal Reserve Bank of New York President William C. Dudley said.