the staff of the Ridgewood blog
Washington DC, the Federal Open Market Committee, as expected, delivered its quarter percentage point rate cut, but not without some backstage intrigue that included two dissenting votes — one in each direction. While Governor Stephen Miran delivered a widely anticipated “no” vote because he preferred a half-point reduction, Kansas City Fed President Jeffrey Schmid wanted no cut, speaking for what is an apparently growing group of inflation hawks who are worried about the Fed’s easing bias.
