If That Was a Hawkish Cut, Doves Needn’t Worry
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Muted dissent like this does not signal a Fed that won’t let itself be pushed around.The Fed’s hawks didn’t fly. To get John Authers’ newsletter delivered directly to your inbox, sign up here. We have a divided Federal Reserve, but the important point is that it’s not even more divided.
The Federal Open Market Committee announced Wednesday that it was cutting the fed funds rate to 3.75% from 4.0%, its lowest since October 2022. Trump appointee Stephen Miran dissented in favor of cutting further, while two members argued not to cut at all.