Economics
St. Louis Critic Provides Powell’s First Policy Dissent
- Bullard may be the ‘canary in coal mine’ with others following
- St. Louis Fed chief has consistently argued for lower rates
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Jerome Powell just suffered his first dissent since becoming Federal Reserve chairman and the opposing vote was cast by reliable policy dove James Bullard.
The president of the St. Louis Fed bucked his colleagues, who voted on Wednesday to keep interest rates on hold in a 2.25% to 2.5% target range, by seeking a 25 basis point cut.