Next year, the Fed's hawkish voting committee may increase to at least three

On December 20th, the annual change in the composition of the Federal Reserve's FOMC voting committee next year may slightly increase resistance to further interest rate cuts. The incoming voting committee is more hawkish than the outgoing voting committee. "This opens the door to more dissenting votes next year," said Oscar Munoz, an analyst at TD Securities. < br > < br > At the December FOMC meeting, four of the Fed's 19 policymakers wrote predictions that the rate cut was inappropriate, and the Cleveland Fed President Hammack voted against it as a voting committee. Hammack will leave the FOMC next year and be replaced by Chicago Federal Reserve President Goolsbee. He believes that the policy rate needs to be cut significantly next year, and he is obviously more dovish than Hammack. But two other new vote-makers - St. Louis Fed President Mousalem and Kansas City Fed President Schmid - will toughen the stance of the 2025 vote-makers, who will replace Atlanta Fed President Bostic and San Francisco Provisional Reserve President Daley, who are seen as centrist. < br > < br > TD Securities analysts speculate that Mousalem is one of four policymakers who submitted forecasts opposing the rate cut, and the other may be Schmid, both of whom have hinted at some hesitation about further rate cuts. The fourth could be Fed Governor Bowman, who opposed a 50-basis point rate cut in September but may switch to supporting this week's rate cut during the two-day meeting. < br > < img src = "https://flash-scdn.jin10.com/8d9cc8d8-0cf9-43f4-84c7-78eaf74e5d80.png" referrerpolicy = "no-referrer" >