Bill Dudley, Columnist

The Fed Needs to Push Interest Rates Higher

Better to risk a deep economic recession than out-of-control inflation.

June 1, 2023 at 10:00 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.

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Should I stay or should I go? That’s the quandary that will face US Federal Reserve Chair Jerome Powell, when he and fellow policymakers decide later this month whether to take interest rates higher in their battle against inflation.

As in the song by The Clash, if they go there will be trouble, but if they stay it will be double.