Federal Reserve Governor Michelle Bowman dissented against a 50-basis-point interest rate cut, advocating a 25-point reduction due to inflation.
Federal Reserve Governor Michelle Bowman dissented against a 50-basis-point interest rate cut, advocating instead for a smaller 25-point reduction due to persistent inflation above the 2% target. This marks the first dissent by a Fed governor since 2005, indicating internal disagreement. Governor Christopher Waller supported the larger cut, citing improving inflation data. The Fed's current focus is balancing inflation control with labor market stability.
September 20, 2024
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