
Inside the Fed
Inside the Fed
Did You Know…
The Federal Reserve sets monetary policy through the Federal Open Market Committee (FOMC), which is made up of 19 members, though only 12 vote at any given meeting. The seven Federal Reserve Governors always vote, along with the president of the New York Federal Reserve, while the remaining four votes rotate among the other regional Fed presidents. Policymakers are often described as either “dovish” or “hawkish,” with doves generally favoring lower interest rates to support economic growth. The anticipated voting makeup of the Fed this year leans more dovish, increasing the likelihood of rate cuts if inflation continues to cool and the labor market softens.
