Three Fed Governors May Dissent at September Meeting, First Time Since 1988

Jinse Finance reported that the U.S. Senate on Monday narrowly confirmed Milan as a Federal Reserve governor, securing one of the 12 votes just before the Fed's key September policy meeting. The other two Fed governors appointed by Trump, Bowman and Waller, both voted against keeping rates unchanged and supported a rate cut at the July meeting. Analysts say that due to weaker-than-expected labor market data, these two may again vote against at the September meeting, supporting a larger rate cut. Since the early days of former chairman Greenspan's term in 1988, the Fed's policy decisions have not faced opposition from three governors. (Golden Ten Data)