Split Emerges at Fed Over Rate Hikes

Bloomberg: “The participants on the Federal Open Market Committee are clustered into three main groups. The hawks are ready to tighten policy and are on the sharp lookout for inflation. The doves are inclined toward an easy policy that favors job creation. And finally, the centrists are seeking a middle ground.”

“The increasing split between them is clouding the outlook for rates and threatens the unity Fed Chair Jerome Powell has maintained during his tenure, which in turn could undermine the central bank’s credibility on inflation and communications with investors and the public.”