Former New York Fed President: The Federal Reserve should cut interest rates immediately

ChainCatcher news, former President of the Federal Reserve Bank of New York (who had permanent voting rights on the FOMC and was known as the "third in command" of the Federal Reserve) Dudley stated: "I have long been in the camp of 'keeping interest rates high for a longer time.' I believe that to control inflation, short-term interest rates must be maintained at current levels or higher. But times have changed, and so has my mind. The Federal Reserve should cut interest rates, preferably starting at next week's rate meeting." (Jin Shi)