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Possible dissent hangs over Fed's first rate cut in a decade
U.S. Federal Reserve policymakers will not surprise markets if they deliver on expectations and cut U.S. interest rates for the first time in a decade on Wednesday. Less clear is how Fed Chairman Jerome Powell will manage debate at the central bank about whether the stimulus is necessary. The Fed chief faces a strong possibility that the move will draw at least one dissent. Boston Fed President Eric Rosengren, one of two current policymakers who was present when the Fed last initiated a rate-cutting cycle nearly 12 years ago, earlier this month said he does not want to ease policy “if the economy is doing perfectly ... (full story)
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