The "three hands of the Federal Reserve": the Federal Reserve should cut interest rates immediately

Mr. Dudley, the former New York Fed chairperson who has permanent voting rights on the FOMC and is known as the "three hands of the Fed", said: "I have long been in the camp of" keeping interest rates high for a longer period of time ", and I believe that to control inflation you have to keep short-term interest rates at current or higher levels. But times have changed, and now things have changed, so I have changed my mind. The Fed should cut rates, preferably at next week's interest rate meeting."