Former New York Federal Reserve President Dudley: I've changed my mind, the Federal Reserve should cut interest rates immediately

On July 25th, Dudley, the former president of the Federal Reserve Bank of New York (who enjoys the permanent voting rights of the FOMC and is known as the "three hands of the Federal Reserve"), said: I have long been in the camp of "keeping interest rates high for a longer time". I believe that to control inflation, short-term interest rates must be maintained at current or higher levels. But times have changed, and now the situation has changed, so I have changed my mind. The Federal Reserve should cut interest rates, preferably at the interest rate meeting next week.