Fed Bowman's dissent is first from US Fed governor since 2005
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On September 19, 2024, Federal Reserve governor Michelle Bowman voted against an interest-rate decision for the first time since 2005, opposing Fed Chair Jerome Powell's consensus. The other 11 voting members supported a half-percentage-point rate cut, while Bowman preferred a quarter-point cut. Only 12 of the 19 policymakers voted, including eight permanent voters. Historically, dissents have been rare among Fed governors, with most dissenting votes coming from Fed presidents. Bowman's dissent marks a significant moment as it is the first in favor of tighter monetary policy in nearly 30 years. She has been a vocal advocate for a higher Fed policy rate to combat inflation.

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