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Key Words: The Fed’s been ‘a convenient whipping boy’ on Wall Street, Dudley says

Former New York Fed President William Dudley had a message for those who pointed a finger at the central bank for last year’s stock market’s woes: You can’t always blame us

“It was a convenient whipping boy; the Fed’s seeming inflexibility in the space of all these market developments for a while was a convenient whipping boy. The markets occasionally go down for a whole host of reasons.”

William Dudley

In an interview Thursday with CNBC at the annual National Association of Business Economics conference in Washington, Dudley, who retired last June, said there were plenty of reasons for Wall Street’s slump late last year that were unrelated to its balance-sheet runoff.

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