Analysis: Under Trump's pressure, Powell maintained the Fed's unity

BlockBeats News, September 18th. The biggest surprise of the latest Federal Reserve interest rate decision was: only one vote in opposition. Despite facing adversity, Federal Reserve Chair Powell successfully achieved nearly unanimous consensus at this week's monetary policy meeting, with newly appointed Governor Milan being the sole dissenter against a 25 basis point rate cut. Milan, a close ally of Trump, had just been sworn in as an interim Fed governor on Tuesday. His reason for dissent was to support a larger rate cut — a move that Trump has been demanding for months. However, Governors Waller and Bowman had raised dovish objections in July but did not do so this time. Chief Economist at KPMG Diane Swonk stated: "It's clear that Powell managed to herd the 'cats' (bring together people with differing opinions)." (FX Street)