{"id":31913,"date":"2022-04-06T23:37:27","date_gmt":"2022-04-06T23:37:27","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=31913"},"modified":"2022-04-06T23:37:27","modified_gmt":"2022-04-06T23:37:27","slug":"bill-dudley-a-soft-landing-will-be-hard-to-achieve","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/","title":{"rendered":"Bill Dudley: A soft landing will be hard to achieve"},"content":{"rendered":"<p>Bill Dudley, former FRBNY Pres and Goldman Sachs Chief US Economist says the Fed will have to drive up unemployment to keep inflation in check. When the Fed has done that in the past it has always resulted in a recession. Bond yields will have to rise and stocks will have to fall in order for the Fed to succeed in taming inflation.<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"525\" height=\"296\" src=\"https:\/\/www.youtube.com\/embed\/Fiiib9oqTB0?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p>Hat tip to <a href=\"https:\/\/twitter.com\/FedGuy12\/status\/1511717521111629828\">Joseph Wang<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bill Dudley, former FRBNY Pres and Goldman Sachs Chief US Economist says the Fed will have to drive up unemployment to keep inflation in check. When the Fed has done that in the past it has always resulted in a recession. Bond yields will have to rise and stocks will have to fall in order &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bill Dudley: A soft landing will be hard to achieve&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31913","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bill Dudley: A soft landing will be hard to achieve - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bill Dudley: A soft landing will be hard to achieve - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Bill Dudley, former FRBNY Pres and Goldman Sachs Chief US Economist says the Fed will have to drive up unemployment to keep inflation in check. When the Fed has done that in the past it has always resulted in a recession. Bond yields will have to rise and stocks will have to fall in order &hellip; Continue reading &quot;Bill Dudley: A soft landing will be hard to achieve&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-06T23:37:27+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Bill Dudley: A soft landing will be hard to achieve\",\"datePublished\":\"2022-04-06T23:37:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\"},\"wordCount\":83,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\",\"name\":\"Bill Dudley: A soft landing will be hard to achieve - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2022-04-06T23:37:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/06\/bill-dudley-a-soft-landing-will-be-hard-to-achieve\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bill Dudley: A soft landing will be hard to achieve\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He expects rates will be \u201c4% or higher\u201d in the first half of 2023. (Bloomberg) A 75 basis-point hike is on the cards for the next FOMC\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Nymex Light Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":25552,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/05\/01\/25552\/","url_meta":{"origin":31913,"position":1},"title":"Moar stimulus means higher US stock prices","author":"Colin Twiggs","date":"May 1, 2021","format":false,"excerpt":"Daily COVID-19 cases in the US, at 56k, is proving stubbornly persistent. But markets are ignoring this, expecting rising vaccination rates to eventually stem the flow of new cases. Stimulus Checks lift Savings The flood of Joe Biden's stimulus checks lifted disposable personal income growth to a massive 32.3% (YoY)\u2026","rel":"","context":"In &quot;Housing&quot;","block_context":{"text":"Housing","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/housing-economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28619,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/10\/31\/david-woo-prelude-to-volatility\/","url_meta":{"origin":31913,"position":2},"title":"David Woo: Prelude to volatility","author":"Colin Twiggs","date":"October 31, 2021","format":false,"excerpt":"https:\/\/youtu.be\/9xUHrG549hY The bond market had a heart attack last week. Rising inflation caused a massive back up in bond yields in the short end of the market. The market is now pricing in two rate hikes in 2022. The Fed will have to raise real interest rates in order to\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/9xUHrG549hY\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":37669,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/09\/22\/fed-full-speed-ahead-and-damn-the-torpedoes\/","url_meta":{"origin":31913,"position":3},"title":"Fed: Full speed ahead and damn the torpedoes!","author":"Colin Twiggs","date":"September 22, 2022","format":false,"excerpt":"\"Damn the torpedoes! Full speed ahead!\" ~ Union Admiral David Farragut, Battle of Mobile Bay (1864) The Fed stood firm in its commitment to taming inflation, hiking the funds rate target by 75 basis points on Wednesday, to a range of 3.00% to 3.25%. The FOMC statement reads: ....The Committee\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Union Admiral David Farragut","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/davidfarragut.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":42365,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/06\/01\/no-free-lunches-with-a-tight-labor-market\/","url_meta":{"origin":31913,"position":4},"title":"No free lunches with a tight labor market","author":"Colin Twiggs","date":"June 1, 2023","format":false,"excerpt":"US job openings for April ticked up to 10.1 million, from 9.7 million in March. The gap above unemployment also widened -- by half a million, from 3.9 million in March to 4.4 million in April. Unemployment (3.4%) is at the lowest level in seventy years. The tight labor market\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Job Openings & Unemployment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":24219,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/22\/inflation-this-time-is-different\/","url_meta":{"origin":31913,"position":5},"title":"Inflation: This time is different","author":"Colin Twiggs","date":"February 22, 2021","format":false,"excerpt":"The commonly held view, recently echoed by Chairman Jay Powell, is that the Fed has tamed inflation and it is no longer a major consideration in monetary policy. Full employment is seen as the primary goal and the Fed is prepared to tolerate a \"temporary\" increase in inflation. But as\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/31913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=31913"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/31913\/revisions"}],"predecessor-version":[{"id":31914,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/31913\/revisions\/31914"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=31913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=31913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=31913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}