The Fed will "stay the course" of easy money until the economy is clearly rolling, NY Fed's William Dudley says, advocating a broad interpretation of progress in the labor market: "It wouldn't be enough for me just to see the unemployment rate decline a bit. It would also matter why [it] is declining and whether that improvement is likely to be sustained in the future."
The Fed will "stay the course" of easy money until the economy is clearly rolling, NY Fed's...
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