TechFlow, July 30 — According to Jinshi Data, "Fed whisperer" Nick Timiraos reported that this week's Federal Reserve meeting could see two board members dissenting—a situation not seen in over 30 years (or 259 consecutive policy meetings). Powell and some of his colleagues have indicated a preference to hold steady at this week's meeting, while potential dissenters—Fed governors Waller and Bowman—are both appointees of President Trump. Both have expressed support for rate cuts, as has Trump publicly. Tim Duy, chief U.S. economist at SGH Macro Advisors, said, "Trump will eventually influence every institution, and perhaps the Fed's ability to resist that influence has ended." Regardless of Powell's decision, a split this week may be unavoidable—if the Fed cuts rates, it could face opposition from hawks concerned about reigniting inflation.
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