Why Bill Dudley’s ‘Cut Rates Now’ Call Is A Non-Starter

You can't say Bill Dudley wasn't direct. "I changed my mind," Dudley said Wednesday. "The Fed needs to cut rates now." That was actually the title of an Op-Ed Dudley penned for Bloomberg Opinion. In explaining his about-face, the erstwhile higher-for-longer advocate pointed to mounting evidence of a slowdown, including the yawning disconnect between the household and establishment surveys in the monthly jobs report, the JOLTS-derived openings-to-unemployed ratio (which he noted is back to pre

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One thought on “Why Bill Dudley’s ‘Cut Rates Now’ Call Is A Non-Starter”

They could announce their intention to cut rates soon at the july presser. They could announce a date certain end of qt at the July meeting. Powell could follow up with a dovish speech at Jackson hole. Finally, they could wait until September and throw a fifty at that meeting. I would recommend all of the above.