Bill Dudley, Columnist

The Fed Needs to Get Real About Interest Rates

Sugarcoating the outlook will only complicate its job and undermine its credibility.

May 11, 2022 at 9:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Dudley Says Fed Will Need to Hike Past Neutral to 'Tight'

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How high will the U.S. Federal Reserve take interest rates? It’s a crucial question, given that the value of trillions of dollars in stocks and bonds worldwide is riding on the outcome.

For markets, the answer suggested by Fed Chair Jerome Powell’s recent statements is not comforting: Probably a lot higher than you think.