FRBNY President Bill Dudley throws the Taylor Rule over the side, saying it leads to monetary...

|By:, SA News Editor

FRBNY President Bill Dudley throws the Taylor Rule over the side, saying it leads to monetary policy being too tight in a financial crisis. Financial stability first, monetary policy next, argues Dudley as policy is ineffective without stability. His remarks seem to have put a bid into equities and Treasurys, with both still lower but cutting big pre-opening losses. SPY -0.8%, TLT -0.3% premarket.