Central Banks
Powell’s Fed Sticks Together in Fight Against Inflation Despite Differences
- Not a single policymaker has dissented over past 11 meetings
- Unanimity may amplify criticism Fed’s hamstrung by group think
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For all the tough decisions Federal Reserve officials have made during their 20-month inflation battle, you wouldn’t know it from looking at the policy votes.
Over the past 11 meetings of the Federal Open Market Committee, not a single member voted against the actions led by Chair Jerome Powell, an unusually long stretch of unanimity that belies underlying differences and uncertainty over the direction of monetary policy and the economy.