Economics
Dudley Doesn't See ‘Compelling’ Case for Faster Fed Rate Hikes
- NY Fed chief says strong economic growth will boost inflation
- Still more slack than U.S. unemployment rate suggests: Dudley
New York Fed President William Dudley
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Strong economic growth and higher inflation don’t necessarily mean Federal Reserve officials should speed up interest-rate increases, New York Fed President William Dudley said.
“Even though the unemployment rate is low, inflation remains below our 2 percent objective. As long as that is true, the case for tightening policy more aggressively does not seem compelling,” Dudley said Wednesday in remarks prepared for a speech in the Bronx.