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Today’s Rate Decision Could Bring More Dissents
Today’s rate call could once again highlight disagreement between the FOMC’s hawks and doves.
Fed watchers expect there to be at least one dissenting vote for today’s rate-setting decision. The most likely candidate for a dissent is Fed governor Stephen Miran, who has voted against the committee’s action at the last two FOMC meetings. Miran has been a vocal advocate for bigger rate cuts, pushing to lower the target for the federal-funds rate by half of a percentage point, rather than the quarter-point cuts agreed upon at both meetings.
Kansas City Fed President Jeffrey Schmid, who also dissented at the October meeting, is another possible dissenter. But while Miran pushed for steeper rate cuts, Schmid preferred keeping rates unchanged.
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