Reserve President William Dudley: Recent data suggests the US economy is slowing

strict monetary policy rules would have slowed the Fed’s response to the financial crisis. But the Federal Reserve Bank of New York president added that he does not support “total discretion” in monetary policy.

He spoke three days after release of a paper by the San Francisco Federal Reserve that questioned the efficacy of ultralow interest rates.

http://www.cnbc.com/2015/10/15/feds-dudley-argues-against-strict-monetary-policy-rule.html