Former New York Fed President: Fed Should Cut Rates Now

Former U.S. Federal Reserve President Dudley wrote that he has long stood in the "longer to maintain high interest rates" camp, that to control inflation must be kept in the short-term interest rates at the current or higher than the current level. But the situation has changed so that he changed his mind. He now believes that the Fed should cut interest rates, preferably next week's interest rate meeting on the start.