On August 14th, Jin Shi Data reported that Ethan Harris, former chief economist of Bank of America Securities, said that the days when the Federal Reserve was in sync are gone forever. The objections of Waller and Bauman, who were appointed by President Trump in July, to support interest rate cuts have "broken the harmony". This means that no matter what decision the Federal Reserve makes, there will always be opposition.
Harris also said, "I expect a heated debate between hawks and doves before the September meeting, casting some uncertainty over the decision to cut interest rates. Hawks will not easily concede. But I believe this month's data will support a 25 basis point rate cut
Stephen Ricciuto, Chief Economist of Mizuho Securities, stated that currently, neither hawkish supporters of keeping interest rates unchanged nor dovish supporters of loose policies make up the majority. Most Federal Reserve officials hold a middle ground stance. The focus of debate within the Federal Reserve is whether cutting interest rates to support a weak labor market is meaningful. (Golden Ten)
