"Third in Command at the Federal Reserve": The Federal Reserve should immediately cut interest rates

Former Chairman of the Federal Reserve Bank of New York (who has permanent voting rights on the FOMC and is known as the "third hand" of the Fed), Dudley stated: "I have long been in the camp that advocates for maintaining high interest rates over a longer period. I believe that to control inflation, short-term interest rates must be kept at or above current levels. However, times change and circumstances have now changed, so I've changed my mind too. The Fed should cut interest rates, preferably starting at next week's rate meeting."