Who Votes on Fed Policy Next Year Is Changing. Here’s What to Know
- Musalem, Schmid, Collins and Goolsbee to be voters next year
- Powell has seen dissents at two of the last three Fed meetings
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New voters are set to rotate onto the Federal Reserve’s interest-rate-setting committee just as renewed inflation concerns inject a fresh layer of complexity into the central bank’s decision making.
The Fed lowered its benchmark policy rate by a quarter percentage point earlier this month, and signaled just two reductions for 2025. Chair Jerome Powell made clear the central bank is entering a new phase where future rate cuts will likely be at a more gradual pace and depend on whether inflation ebbs.