Bill Dudley, Columnist

The Fed Is Wrong About How Low Interest Rates Will Go

This time around, the market has it right. The federal funds rate will probably stay a lot higher than what officials are projecting.

April 4, 2024 at 10:00 AM UTC

By Bill Dudley

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.

Not quite so low.
Photographer: Ken Murray/NY Daily News Archive/Getty Images

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Financial markets and the US Federal Reserve remain in disagreement on a subject crucial to asset prices and economic growth: how low interest rates will eventually go.

Betting against the Fed is a fraught endeavor. Nonetheless, in this case I think the market is right.