Former NY Fed Chief: 'Welcome To The Recession'

Former president of the Federal Reserve Bank of New York, and vice-chair of The Fed Bill Dudley has not been shy to express his real thoughts since he left the hallowed halls of groupthink.

In August 2019, he urged Fed Chair Powell to prevent Trump’s re-election.

In June 2020, Dudley admitted The Fed’s massive intervention during the COVID crash had created “a little bit of moral hazard in the sense you’re encouraging people to take on more debt.”

In October 2020, the former FRBNY boss admitted The Fed was powerless and only Congress could save Americans now.

In November 2021, Dudley warned The Fed that “hope and pray” that inflation abates is not a strategy, warning, “if it waits, the economy could significantly overheat, requiring the Fed to jam on the brakes, precipitating an early recession.”

Then lastly, in April

Keep reading this article on Zero Hedge - Blog.

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