Fed’s Dudley says FOMC policy actions were justified


Aggressive monetary easing in the form of a third round of quantitative easing (QE3) was justified based on the weakness of the US economic recovery, according to William Dudley, president of the Federal Reserve Bank of New York.

Speaking on October 15, Dudley said an insufficiently accommodative monetary policy was contributing to anaemic growth in the US, alongside factors such as the ongoing crisis in the eurozone, uncertainties surrounding the ‘fiscal cliff', demographic changes and

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