Dudley Calls for `Cautious and Gradual' Fed Tightening Path

  • New York Fed chief says risks still tilted to the downside
  • Confidence in inflation outlook higher than earlier this year

William C. Dudley.

Photographer: Scott Eells/Bloomberg

Uncertainty over the outlook for the U.S. economy is higher than usual, which calls for a “cautious and gradual approach” to interest-rate increases, Federal Reserve Bank of New York President William C. Dudley said.

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