It's a high stakes balancing act for the Federal Reserve as policymakers weigh their next move in the battle to tame inflation. Will they hold back from more rate rises because of the stress in the banking sector? Will they follow the European Central Bank's footsteps and raise rates by half a percentage point? Or will they go with a more modest quarter-point hike? Joining the show to discuss is Bill Dudley, who served as president of the New York Federal Reserve from 2009 to 2018.