Federal Reserve policymakers defend dissent against steady-rate policy statement

13 articles · Updated · The New York Times · May 1

At Wednesday's meeting, rates were held at 3.5%-3.75%, while Neel Kashkari and Beth Hammack said Friday the Fed should drop language implying cuts remain the likeliest next move.
They argued the Iran war's energy shock has revived inflation risks and that the next move could be a rate rise or cut, depending on incoming data and the economic outlook.
The split, among the Fed's sharpest in decades, signals resistance to easier policy as Kevin Warsh prepares to succeed Jerome Powell amid Donald Trump's calls for lower borrowing costs.

Can the new Fed chair deliver rate cuts when his own team warns of a war-fueled inflation crisis?

Is a new Mideast war pushing the US economy back to the runaway inflation and stagnation of the 1970s?

Why is the outgoing Fed chair refusing to leave, a move unseen in 80 years, as his replacement takes over?