TechFlow news — On January 5, according to the Federal Reserve's official website, the Fed welcomed two "hawkish" voting members, one "dovish" voter, and one neutral member for 2025:
New voting members:
- Austan D. Goolsbee, President of the Federal Reserve Bank of Chicago
- Susan M. Collins, President of the Federal Reserve Bank of Boston
- Alberto G. Musalem, President of the Federal Reserve Bank of St. Louis
- Jeffrey R. Schmid, President of the Federal Reserve Bank of Kansas City
Replaced voting members:
- Thomas I. Barkin, President of the Federal Reserve Bank of Richmond
- Raphael W. Bostic, President of the Federal Reserve Bank of Atlanta
- Mary C. Daly, President of the Federal Reserve Bank of San Francisco
- Beth M. Hammack, President of the Federal Reserve Bank of Cleveland
Changes in the Fed's voting lineup could influence policy direction. Bloomberg suggests that the divergence in voting members' stances may lead to greater disagreements; Barron’s believes the rotation could tilt the Fed’s 2025 decisions toward a more hawkish stance; Reuters argues that increased divisions among voting members may heighten risks in policymaking.
Additionally, the Federal Reserve will hold eight meetings in 2025, scheduled for January, March, May, June, July, September, October, and December. According to the December 2024 dot plot, the Fed has reduced its projected number of rate cuts:
- The number of rate cuts expected in 2025 has decreased from four, as forecasted in September, to just two.
- The median interest rate projection has been raised from 3.4% in September to 3.9%.
