Federal Reserve Governor Kugler Absent from This Week’s Policy Meeting for Personal Reasons, Voting Members Temporarily Reduced to 11

According to a report by Jinse Finance citing foreign media, the Federal Reserve has announced that Governor Kugler will be absent from this week’s two-day July policy meeting due to personal matters. This likely means that only 11 FOMC members will vote on this week’s policy decisions, rather than the usual 12. Although it is expected that Governors Waller and Bowman may be the two dissenters supporting a rate cut this month, the committee is still anticipated to overwhelmingly support keeping rates unchanged. Under Federal Reserve policy, if a regional Fed president is absent from a vote, another president can serve as a substitute. However, there are no substitutes for governor positions.