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Fed Governor Kugler will be absent from this week's interest rate meeting due to personal reasons, temporarily reducing the number of voting members to 11.
16hours ago

Odaily Planet Daily reported that the Federal Reserve said that Federal Reserve Governor Kugler will be absent from the two-day July policy meeting this week due to personal reasons. This may mean that only 11 FOMC members will vote on this week's policy decisions, instead of the usual 12. Although Federal Reserve Governors Waller and Bowman are expected to become two dissenters who support lowering interest rates this month, the committee should still support keeping interest rates unchanged by an absolute majority. According to Federal Reserve policy, if a regional Federal Reserve president is absent from the vote, other presidents can participate in the vote as substitutes. However, there are no substitutes for the governor seats. (Jinshi)