(Bloomberg) -- Former New York Federal Reserve President William Dudley said he sees scope for a half-point rate cut at next week's meeting.

Most Read from Bloomberg

"I think there's a strong case for 50," Dudley said on Friday at a forum organized by The Bretton Woods Committee in Singapore. Dudley left the New York Fed in 2018 and is now chair of the Bretton Woods Committee and a Bloomberg Opinion columnist.

"I know what I'd be pushing for," he said.

With the US labor market cooling, Fed Chair Jerome Powell has set the stage for reducing interest rates from their highest in more than two decades. Traders are pricing in at least a quarter-point worth of easing when officials gather in Washington Sept. 17-18.

Earlier this month, Federal Reserve Governor Christopher Waller said he's "open-minded" about the potential for a bigger rate cut and would advocate for one if appropriate.