Bill Dudley, the former president of the Federal Reserve Bank of New York, cautioned that the central bank’s approach to managing inflation risks recession.

Dudley, who helmed the New York Fed from 2009 to 2018, sounded the alarm about the Fed’s policy in an op-ed published on Monday by Bloomberg. He said that the new Fed policy announced last summer, which targets 2% inflation but allows that figure to be breached, “makes a lot of sense.”