Fed's Dudley defends push for some rules, resistance to others

A top Federal Reserve official, asked about the apparent disconnect of his recommendation for automatic fiscal policies alongside his resistance against similar restraints on monetary policies, said such an approach is necessary in times of economic upheaval. New York Fed President William Dudley said the automatic government spending policies he endorses would only come into play when the U.S. economy "really needs it, when you are in an economic downturn," and it would boost investor and publi