Ethan Harris, a former chief economist at Bank of America Securities, said the days when the Fed was in step are gone. Dissent from Waller and Bowman, who were appointed by President Trump in July to support rate cuts, has "broken the harmony". That means there will be opposition to whatever the Fed decides.
Mr. Harris added: "I expect a heated debate between hawks and doves ahead of the September meeting to cast some uncertainty over the decision to cut rates. Hawks won't back down easily. But I think this month's data will support a 25 basis point cut."
Stephen Ricciuto, chief economist at Mizuho Securities, said there was not a majority of either hawks in favor of keeping interest rates unchanged or doves in favor of easing. Most Fed officials are in the middle. The debate within the Fed is over whether it makes sense to cut interest rates to support a weak labor market. (Jin Ten)
Agency: The Federal Reserve's September meeting is bound to see opposition
2025-08-14 03:19:15
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