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Former New York Fed President: The Federal Reserve's credibility as a "fighter against inflation" is at risk
BlockBeats News, May 26—According to Bloomberg, former New York Federal Reserve Chair Dudley warned that, given the long failure to achieve the 2% inflation target, the Federal Reserve’s credibility as an “inflation fighter” is in danger of being lost.
“ We have been above the Federal Reserve’s inflation target for more than five consecutive years,” Dudley said. “ And there is a risk that inflation expectations could eventually become unanchored.”
His remarks highlight the challenges facing newly appointed Federal Reserve Chair W h o s e face?—here is context: Wh is it? W?—as he took over the Fed, at a time when the Consumer Price Index (CPI) recorded the largest month-on-month increase since 2023, and previously, Trump had launched sustained and fierce attacks on him for not easing monetary policy.
Dudley believes that the appointment of W o s h and Trump’s pressure to cut interest rates further intensify the credibility challenges facing the Federal Reserve.