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Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017.

Reuters/Joshua Roberts

  • The Fed has sparked a recession every time it's tries to tackle a hot labor market, former Fed official Bill Dudley said. 
  • Powell has repeatedly cited a tight labor market as to why interest rates need to remain restrictive.
  • Dudley believes a soft-landing is unlikely, and a recession is looming in the medium-term. 

The Fed has caused a recession every time it's tried to weaken the labor market as it is currently doing, and a soft-landing of the economy is looking unlikely, according to former New York Fed chief Bill Dudley.

Tags
Markets, MI Exclusive, Recession, US economic outlook, fed inflation, Fed rate hikes, interest rates outlook, Unemployment, Labor Market, tight labor market, fed tightening, Economic Downturn, Bill Dudley
Source
The Fed has caused a recession every time it's tried to weaken the labor market…