Benchmark
Too Much Deference to Fed Chairmen is Stunting Policy Debates, Former Governor Says
There hasn't been dissent from a Fed governor in 10 years
Kevin Warsh, former governor of the U.S. Federal Reserve board.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
There is a strange routine that unfolds at the meetings of the Federal Open Market Committee, the panel that sets interest rates.
People debate and disagree. They fret about whether the current stance of monetary policy fits economic conditions. And then they mostly vote in unison, as they have at every meeting this year.