The July Federal Reserve meeting may go down as the most divided in over three decades, as two key board members, Michelle Bowman and Christopher Waller, broke ranks by voting for a rate cut, while Chair Jerome Powell and the majority held rates steady.
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But a dismal July jobs report, which saw a massive 258,000 jobs slashed from prior months’ figures, has sparked new urgency among central bankers and Wall Street analysts to pull forward rate cuts—even from some of the Fed’s most hawkish voices.
Kashkari Turns Dovish: “The Economy Is Slowing”
Minneapolis Fed president Neel Kashkari, long known for supporting tighter policy, told CNBC’s Squawk Box on Wednesday that the economic outlook is softening fast.
“The real underlying economy is slowing,” Kashkari said. “In the near term, it may become …