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Former Fed member Dudley: Not much evidence that monetary policy is too tight

Former New York Fed President William Dudley recently crossed the wires arguing that there wasn't much evidence that the monetary policy was too tight.

Key quotes

  • Fed raising rates yesterday was the correct thing to do, does not believe it was a close call.
  • Does not see a rate hike in January.
  • Fed trying not to go too fast or too slow on policy.
  • Cites key is to focus on Fed’s outlook.
  • Noted Fed may not have dialed it back as much as market desired.
  • If economy starts to weaken then Fed would definitely pause.
  • Sees 2 or 3 more hikes as most likely from Fed.

Source: LiveSquawk.

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