Ex-NY Fed Chief: Fed's Inflation Fighter Credibility on the Line
The Fed's reputation as an inflation slayer is in tatters. Former NY Fed chief Bill Dudley warns that years of missing the 2% target are eroding credibility, just as new leadership faces the heat.
Bill Dudley, the former New York Fed chief, is sounding the alarm. He's telling anyone who'll listen that the Fed's credibility as an inflation fighter is on the chopping block. Five years of blowing past the 2% target is not a good look, and it's starting to cost them.