Former New York Federal Reserve President Dudley: The Fed is not so divided

Former New York Federal Reserve President Dudley wrote in an article that the internal divisions of the Federal Reserve are greatly exaggerated, and he believes that last week was an exception, and the actions of the two governors did not weaken the position of Chairperson Powell. Dudley pointed out that Waller asked the Federal Reserve to cut interest rates because he intended to succeed Powell as chairperson, and Bowman because of his oversight responsibilities as vice chairperson of the Federal Reserve. Dudley admitted that although he has indeed been critical of the Federal Reserve, including the flaws in its monetary policy framework for 2020 and the failure to properly consider the costs and benefits of quantitative easing, Dudley believes that the attacks on Powell's potential successors have gone too far.