New York Fed President: It makes no sense to start cutting rates by 25 basis points

ChainCatcher news, Dudley, who served as president of the New York Federal Reserve Bank from 2009 to 2018, stated that if the risks between rising inflation and a weak labor market truly reach a balance, as Federal Reserve officials have said, then the Fed should hope for interest rates to be closer to neutral levels. Given that all Federal Reserve officials believe that rates below 4% make it meaningless to start cutting rates by 25 basis points, logically, the Fed should move faster. Additionally, last week's employment report was not particularly reassuring, as the unemployment rate has risen by 0.5 percentage points since the beginning of the year. (Jin Shi)