He is no longer at the Fed, but he is not that far removed
Ex NY Fed chief Dudley is on the wires saying:
- the Fed doesn't care about market prices for themselves
- the Fed is not there to take away the markets pain
- Fed dialed it back a little at the meeting
- The Fed may not have dialed back is much as the market wanted
- important to focus on the Fed's outlook
- Fed continuing to tighten as it sees above trend growth
- Tighter financial conditions probably unnecessary thing
- If the economy starts to weaken, the Fed would definitely pause
- Two or three rate hikes by Fed seems most likely
Dudley was the president of the NY Fed. That gave him a permanent vote on the Fed. Dudley retired from the Fed in June 2018. As such, he sat on the Fed Board with Fed Chair Powell and is not that far removed from being a voting member. John Williams is the NY Fed President now by way of the SF Fed Presidency.
