Fed Minutes Show a Committee More Divided Than the 12–0 Vote Suggests - SchiffGold.com
Fed Minutes Show a Committee More Divided Than the 12–0 Vote Suggests - SchiffGold.com
Source: SchiffGold.com
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DW NOTE
A unanimous vote means nothing when the minutes reveal the committee couldn't agree on what they were actually voting for. Twelve people can all say yes to a rate hold while three of them think it's a prelude to cuts, four think it's transitional hawkishness, and five are just waiting to see next month's data. This isn't consensus, it's procedural theatre masking genuine disagreement about whether 4.27% inflation with negative real rates is a problem worth solving.