Dudley expects ‘some turbulence’ when Fed hikes rates
Highlights importance of short-term rate path for financial asset prices
Federal Reserve Bank of New York president William Dudley expects "some turbulence" when the Federal Open Market Committee (FOMC) begins tightening monetary policy – which he suggested will happen later this year, if the labour market continues to improve.
Addressing the Economic Club of Minnesota on June 5, Dudley noted the "likely post-lift-off trajectory of short-term rates over the medium to longer term" will play an important role in determining financial asset prices.
The New York Fed
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