Dudley hits back at plans to curb Fed discretion

william-dudley
William Dudley

Federal Reserve Bank of New York president William Dudley on March 31 warned of the potential damage that plans to force the Fed to follow rules-based policy could inflict.

In remarks to the Virginia Association of Economists, Dudley tackled proposals by the US congress that would force the Fed to specify a formal rule for setting its monetary policy and stick to it.

"This is a poor idea because adherence to a simple rule would undoubtedly lead to significant policy errors," he said. "The world

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