Powell is expected to achieve a "three consecutive cuts", but the surge in opposing votes poses a hidden danger for his successor!
The last meeting of this year is expected to see three opposing votes again.
This casts a shadow over the next chairperson's ability to unify 18 colleagues.
The debate over neutral interest rates remains the core disagreement—policymakers cannot reach a consensus on its specific value, leading to a continuous increase in opposing votes.
Powell is trying to push more members towards his position.
If three opposing votes appear in December, it will be the fourth consecutive meeting with at least one dissent; during this period, the total number of opposing votes will reach 8, equal to the total number of opposing votes in the previous 47 meetings.
As Trump is about to nominate a new Federal Reserve chair, frequent and substantial opposing votes may become the norm.
Many colleagues who may work with Hasset in the future are not fully convinced by the current policy direction.
The Federal Reserve's interest rate cut this week may be presented in a hawkish manner.