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Fed’s Dove-Turned-Hawk Rosengren Leads Surprise Triple Dissent

  • Yellen says committee ‘struggled mightily’ to find agreement
  • Debate centered on timing of next rate increase, chair says
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Who Are the Three Fed Dissenters?

The consensus that Chair Janet Yellen has worked hard to maintain among Federal Reserve policy makers showed signs of severe strain on Wednesday.

Three members of the Federal Open Market Committee, notably including Boston Fed President Eric Rosengren, dissented when the majority of voters elected to hold interest rates steady despite strong progress this year in the labor market, expectations for higher inflation and calm in global financial markets.