JPMorgan Asset Management’s Bob Michele said the unusual four-way dissent among Federal Reserve policymakers sets up a challenge to Chair-designate Kevin Warsh after President Donald Trump nominated him amid a clamor for lower rates.
Three members of the Federal Open Market Committee disagreed with the policy bias toward easing, while Governor Stephen Miran — President Donald Trump’s lone appointee of his second term so far — urged a quarter-point cut. The disagreement wasn’t a rebellion against outgoing Chair Jerome Powell, Michele said Wednesday in a Bloomberg Television interview.
WATCH: JPMorgan’s Bob Michele reacts to Wednesday’s Federal Reserve decision. Source: Bloomberg
“They’re telling us they are increasingly concerned ...
