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Trio of Former Fed Officials Lament Central Bank’s Actions, See Good Odds of Recession
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The Federal Reserve waited too long to take on inflation and its response to it will almost certainly trigger a recession, according to three former central bank officials.
“The chances of [Fed officials] achieving a soft landing in this cycle is almost zero, because every time they’ve had to push up the unemployment rate in the past, they’ve also ended up in recession,” William Dudley, the New York Fed’s president from 2009 until 2018, said on Friday.
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