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In a dissent not seen in three decades, two Fed governors wanted to cut interest rates and here is why

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4 hours ago

Federal Reserve Governors Michelle Bowman and Christopher Waller on Friday released statements outlining why they supported an interest rate cut at this week's meeting. It marked the first time in more than 30 years that two Fed governors dissented from a decision about rates. The last time was in 1993.Bowman and Waller on Wednesday dissented from the Federal Open Market Committee's (FOMC) 9-2 vote to hold the Fed's benchmark federal funds rate at a range of 4.25% to 4.5%, with both saying they would've supported a 25-basis-point cut to the key interest rate.Dissents by FOMC members occur peri...

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