Patti Domm of CNBC –
The Fed has become increasingly divided with three officials voting against the Fed’s quarter point cut to the fed funds target rate range.
It was the first time in three years that three voting members voted against a policy decision. Seven members were in favor.
“There’s the increasing gap in what people are thinking,” said Ben Jeffrey, rate strategist at BMO. “It’s a testament of how uncertain things are and there’s a difference of views, whether it’s on trade war or how monetary policy in Europe will shake out. The more optimistic members think rates should stay where they are.