The Fed should cut interest rates immediately:

BlockBeats news, on July 25, former New York Fed President (who has permanent voting rights on the FOMC and is known as the "third in command of the Fed") Dudley said: "I have long been in the camp of "keeping interest rates higher for a longer time". I believe that to control inflation, short-term interest rates must be kept at or above the current level.

But times have changed, and now the situation has changed, so I have changed my mind. The Fed should cut interest rates, preferably starting at the interest rate meeting next week." (Jinshi)