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2025-09-18 02:15:23
[Milan casts the only dissenting vote in his Fed debut] Stephen Milan, a Federal Reserve governor who had been in office for only 24 hours, became the only dissenter in the Fed's September rate cut decision. He voted in favor of a larger rate cut of 50 basis points, rather than the 25 basis point cut supported by the majority. Analysts had previously speculated that Trump-appointed Fed governors Waller and Bowman might be opponents of a larger rate cut, but both chose to support the 25 basis point rate cut. Despite his skepticism about rate cuts in recent months, hawkish Kansas City Fed President Schmid also raised his hand in favor of a 25 basis point rate cut.
