New York Fed President: It doesn't make sense to start with a 25 basis point rate cut

ChainCatcher news, Dudley, who served as president of the Federal Reserve Bank of New York from 2009 to 2018, said that if the risks between rising inflation and a weak labor market are really balanced, as Fed officials say, then the Fed should want interest rates to be closer to a neutral level. Given that all Fed officials believe that interest rates are below 4%, it does not make sense to start cutting rates by 25 basis points. Logically, the Fed should go faster. In addition, last week's employment report was not particularly reassuring, as the unemployment rate has climbed 0.5 percentage points since the beginning of the year. (Jinshi)