
Major Split Within the Fed – Two Members Begin to Oppose Chair Jerome Powell, Here Are Their Statements
The Fed's decision to hold its benchmark interest rate steady for a fifth consecutive year was opposed by Board members Christopher Waller and Michelle Bowman. The two members argued that the interest rate should be cut by 25 basis points, highlighting the weakening labor market. In statements released today, Waller and Bowman stated that the Fed's “wait-and-see” approach is overly cautious and could cause unnecessary harm to the labor market. Waller said, “I believe the current cautious stance is overly cautious. Failure to properly balance the risks to the economic outlook could lead to monetary policy becoming unresponsive to developments.”…








