Washington —
Federal Reserve policymakers are split over whether they should continue cutting interest rates, ending a period of consensus that has defined Chair Jerome Powell’s leadership of the central bank.
The Fed’s latest decision to lower interest rates by a quarter point in late October was opposed by two policymakers: one official who preferred to hold rates steady, and another who wanted a larger rate cut instead. A pair of opposing dissents had not been seen since 2019. Earlier this year, more than one Fed governor cast a dissenting vote for the first time in more than three decades.
The growing divide among Fed officials has spilled out into public speeches in recent days, presenting a challenge for Powell as he works to retain consensus among colleagues.
That division is a direct result of the uncertainty in the US economy and questions around the impacts of President Donald Trump’s aggressive trade policy.
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