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Fed 'Whispering Tube': Two Directors May Hold Dissenting Views This Week
Summary: According to reports, the 'Fed Whispering Tube' Nick Timiraos stated that this week's Federal Reserve meeting may see two directors holding opposing views, a situation unprecedented in over 30 years (or 259 consecutive policy meetings). Powell and some of his colleagues have indicated a preference for a wait-and-see approach at this week's meeting, while potential ...
According to reports, the 'Fed Whispering Tube' Nick Timiraos stated that this week's Federal Reserve meeting may see two directors holding opposing views, a situation unprecedented in over 30 years (or 259 consecutive policy meetings). Powell and some of his colleagues have indicated a preference for a wait-and-see approach at this week's meeting, while potential dissenters - Fed directors Waller and Bowman - happen to be two appointees of President Trump. Both have expressed support for rate cuts, which Trump has openly requested. SGH Macro Advisors' Chief US Economist Tim Duy stated, 'Trump will eventually have an impact on every institution, and perhaps the Fed's ability to resist this influence has come to an end.' Regardless of Powell's decision, this week's divergence may be inevitable - if the Fed cuts rates, it may face opposition from hawkish individuals concerned about reigniting inflation.
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Link: Fed 'Whispering Tube': Two Directors May Hold Dissenting Views This Week [Copy]
