Mr. Dudley, the former New York Fed chairperson who has permanent voting rights on the FOMC and is known as the "three hands of the Fed", said: "I have long been in the camp of" keeping interest rates high for a longer period of time ", and I believe that to control inflation you have to keep short-term interest rates at current or higher levels. But times have changed, and now things have changed, so I have changed my mind. The Fed should cut rates, preferably at next week's interest rate meeting."