Dow, S&P 500 slip fed meeting, Bitcoin price drops below $ 21,000

William Dudley, former chairman of the Federal Reserve Bank of New York, said on Tuesday that he hopes the supersize rate will go up on Wednesday as the US Federal Reserve seeks to bring monetary policy faster to tackle rising inflation.

William Dudley, who spoke at the Federal Open Wall Street Journal CFO Network Summit at the end of the Federal Open Market Committee meeting, said the Federal Open Market Committee meeting will result in a three-quarter point rate hike. Once a leading economist, Mr. Dudley Goldman socksHe has headed the Central Bank of New York since 2009 Until he retires in 2018.

Mr. Dudley has been an influential voice on central bank issues and recent comments Has criticized the central bank Being too slow to respond to rising inflation has forced central bankers to shift gears quickly from a rate perspective. This week, next Hot consumer level inflation Data released on Friday showed markets moved in anticipation of a half-percentage point increase from the Federal Open Market Committee meeting. For large-scale movement.

“In our opinion, the central bank has decided to make 75 basis points instead of 50 basis points as the data we have received over the last week or so shows high inflation and some confusing news,” he said. On inflation expectations, ”Mr. Dudley said.

When asked if it would be a good idea to raise the point to a more serious 1 percent, Mr. Dudley said, “You can certainly make that argument because if you decide that speed is just as important as the speed at which you go there. Go, then why not go there faster?” The current federal finance target rate limit is now set between 0.75% and 1%.

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