6/14/2022, 8:57 PM (Source: TeleTrader)
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Fed likely opted for 75 bps rate hike - Dudley

Former Federal Reserve Bank of New York President William Dudley (pictured) stated on Tuesday that the Fed would probably apply three-quarters of a percentage point rate rise at the next Federal Open Market Committee meeting.

"My sense is that the Fed has decided to do 75 basis points rather than 50 basis points because of the data we've gotten over the last week or so showing higher inflation and maybe some more disturbing news on inflation expectations," said Dudley at a Wall Street Journal CFO Network Summit.

However, Dudley also pointed out that a 1% increase would be a valid argument. "You can certainly make that argument because if you decide that the speed of getting there is just as important as the level that you are going to get to, then why not get there faster?"

Baha Breaking News (BBN) / JG