A Fed Soft Landing Is Highly Unlikely, Dudley Says

The transcript discusses the Federal Reserve's historical attempts at achieving a soft landing during economic tightening and the challenges it faces in the current economic climate. It highlights the Fed's delayed response to inflation, the implications of its framework, and the potential for a recession. The discussion also covers monetary and fiscal policy tools, the bond market's perception, and the Fed's challenges in managing financial conditions.

What factors could potentially trigger a change in the labor market according to the discussion?

What role does fiscal policy play in the context of a recession, and how does it relate to the Fed's actions?

How does the bond market's perception of the Fed's actions differ from the reality of what needs to be done?