US FOMC has less room to respond to recession – Dudley
Federal would not be able to respond to recession with a cut of the same “magnitude” as in 2007
If the US were to experience a recession in the next few years, the Federal Reserve would be unable to cut interest rates to the same extent as it did in 2007, the Federal Reserve Bank of New York president has said.
Speaking at a conference in New York, William Dudley said the Fed currently has less policy room to respond to a recessive environment, and may therefore be cautious about raising rates.
"If another recession were to happen in the next few years, it is likely that the FOMC would be
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