William Dudley

New York Fed's Dudley Strikes Back at Critics

William Dudley, president of the Federal Reserve Bank of New York, struck back at critics of the Fed%u2019s asset buying program, saying they "do not understand" the tools available to the Fed. "People do not understand clearly" that "we can have an enlarged balance sheet and not have a long-term inflation problem," Dudley said, according to Bloomberg News. "We are very confident of our ability to exit when the time comes."

Fed's Hoenig Warns Against Further Monetary Action

Kansas City Federal Reserve President Thomas Hoenig broke ranks with some of his fellow regional Federal Reserve executives Tuesday, warning against further monetary action as a way to spur economic activity.

Chicago Fed's Evans Pitches Monetary Action While Economist Stiglitz Warns Against It

Federal Reserve Bank of Chicago President Charles Evans proposed further monetary action on the part of the Federal Reserve, including purchasing more Treasury bonds to cut the cost of borrowing, while lowering his forecast for U.S. economic growth, the Wall Street Journal reported. Meanwhile, Nobel Prize winning economist Joseph Stiglitz warned against such a policy, saying that monetary action would wreak havoc on the foreign-exchange markets, according to Reuters.

Fed's Dudley Hints at Further Action to Ease Money Supply

Further monetary action by the Fed may be warranted because of high unemployment rates and low inflation, said Federal Reserve Bank of New York President William Dudley during a speech Friday at the Society of American Business Editors and Writers conference in New York.