Surveillance: Fed Owes Mea Culpa, Says Dudley
Bloomberg Surveillance
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The Fed Is Moving to Make a Policy Error
The Fed needs to push the unemployment rate up significantly and that's likely to lead to a recession. I think hard landing is very likely because the labor market has gotten too tight. The advantage of going earlier is you wouldn't have to go as fast. You'd have more time to assess the effects of your actions.
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Transcript
