Fed Member Details


William Dudley

President, Federal Reserve Bank of New York, Vice Chairman FOMC

Policy Stance Dovish
Voting Member Yes
Date Assumed Current Office 04/27/2015
Rate Outlook
Dudley worries that the U.S. economy is not quite ready to withstand a series of rate hikes. A weak first quarter brought on by unusually rough winter weather makes a June rate hike less likely. He has also expressed concerns about weakness in the energy sector, until recently one of the driving forces of the U.S. recovery. "Clearly the economy is growing slower and there's less pressure on the labor market," Dudley said in April. "Inflation is still below the Fed's 2 percent objective. It would be reasonable to expect that the timing of the Fed's first rate hike might be a little further off in time." "If financial conditions tighten a lot, then presumably we're going to slow down or we're going to pause for a while," he said.
Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a Bachelor of Arts degree from New College, Sarasota, Florida in 1974. Prior to joining the Fed in 2007, Dudley was a partner and managing director at Goldman, Sachs & Company and served as the firm's chief U.S. economist for a decade. Before joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983.