Bill Dudley, Columnist

The Fed Shouldn’t Raise Its Inflation Target

Changing the objective now would be bad for the economy and for the central bank’s own credibility.

November 28, 2022 at 12:00 PM 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.

Bill Dudley Sees Fed Pause After Hikes to 5%-5.5% Range

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Some people are suggesting that the Federal Reserve consider a compromise in its battle with rising prices: Instead of imposing the full monetary tightening required to get inflation back down to its 2% target, why not increase the target a bit?

For the sake of the economy and its own credibility, I hope the Fed doesn’t listen.