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Open original source ↗Waller yells... "Pick me, pick me!"
*FED VOTES 10-2 TO HOLD BENCHMARK RATE IN 3.5%-3.75% RANGE
*FED SAYS GOVERNORS WALLER, MIRAN DISSENT IN FAVOR OF 25 BPS CUT
Economists and former Fed Governors on TV argue that Chris Waller's dissent was not politically motivated to increase his chances of being picked as Fed Chairman by Trump.
Prediction market traders disagree. https://t.co/p3qS10YGtd
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Quoted context
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I expect a 9-3 vote to hold on rates. The three dissents will be for a cut. The three dissenters will be Miran (for a 50-basis-point cut), Waller, and Bowman. If Waller does not dissent for a cut, he disqualifies himself from being picked by Trump to be Fed Chairman. Bessent just said the list has not been narrowed down (or expanded). Waller knows this because I have no doubt Waller is reading these headlines, like the rest of us, on his phone during the FOMC meeting as some staffer drones on about a highly technical economic indicator.
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