New York Federal Reserve Bank President William Dudley Monday declared his support for aggressive monetary policy in the current economic environment, and said he does not expect the central bank to take its foot off the accelerator until it is confident the economic recovery is "securely established."

In prepared remarks to the annual meeting of the National Association for Business Economics, Dudley also made the case for front-loading monetary policy measures while also arguing that the costs of the Fed's unconventional policy measures "pale" in comparison to not having a sustainable recovery.

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