impish9208
2 days ago
> Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Michael S. Barr; Raphael W. Bostic; Lisa D. Cook; Mary C. Daly; Beth M. Hammack; Philip N. Jefferson; Adriana D. Kugler; and Christopher J. Waller. Voting against this action was Michelle W. Bowman, who preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting.
This would be the first dissent by a governor in the FOMC since 2005.
sigmar
2 days ago
>This would be the first dissent by a governor in the FOMC since 2005.
Yes, but for context- not the first dissent broadly, as there are 5 non-governors on the FOMC.
>In June 2022, Kansas City Fed President Esther George cast what until Wednesday had been the most recent dissent. She had argued for a smaller rate hike, but her colleagues opted for a 75-basis-point increase to battle accelerating inflation. https://www.reuters.com/markets/rates-bonds/fed-bowmans-diss...