A September rate hike is looking less compelling, according to William Dudley, president of the New York Federal Reserve
A voting member of the Federal Open Market Committee, Dudley addressed the Fed's potential tightening—especially considering the recent collapse in U.S. equities and international financial turmoil—in a Wednesday press briefing.
"From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks ago," he said.
"But normalization could become more compelling by the time of the meeting as we get additional information on how the U.S. economy is performing and more information on international and financial market developments, all of which are important in shaping the U.S. economic outlook," he added.