Bill Dudley, Columnist

Federal Reserve Flight 2024 Hasn’t Landed Yet

Defeating inflation without crashing the economy is still a challenge.

February 20, 2024 at 4:00 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.

Everybody wants to know when.
Photographer: Julia Nikhinson/AFP/Getty Images

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Financial markets have lately been intensely focused on the US Federal Reserve’s next moves: How soon will it start cutting interest rates, and how low will it take them this year?

That’s really hard to answer, but I can offer some insight into what will drive the Fed’s decisions.