Dissent Expected at September Fed Meeting as Hawks and Doves Clash
According to ChainCatcher, citing Jin10, Ethan Harris, former chief economist at Bank of America Securities, stated that the days of a unified Federal Reserve are gone for good. The dissent in support of rate cuts from Waller and Bowman, both appointed by President Trump and both supporting rate cuts in July, has “broken the harmony.” He expects that before the September meeting, there will be intense debate between hawks and doves, adding uncertainty to the rate cut decision. Stephen Ricchiuto, chief economist at Mizuho Securities, pointed out that neither the hawks, who support keeping rates unchanged, nor the doves, who favor easing, hold a majority; most Fed officials currently take a centrist stance.
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