Milan Fed's debut: Cast the only dissenting vote

Stephen Moore, a member of the Federal Reserve Board for only 24 hours, was the only one to oppose a 25 basis point rate cut in September, instead voting in favor of a larger 50 basis point cut. Analysts had speculated that Fed board members appointed by Trump, including Waller and Bowman, may also oppose the smaller cut in favor of a larger one, but they both ultimately supported the majority's 25 basis point decision. Despite being skeptical of rate cuts in recent months, hawkish Kansas City Fed President Schmid also raised his hand in support of a 25 basis point cut.