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Fed’s fractured vote signals trouble ahead for future rate cuts
Mint Chennai
|December 12, 2025
Jerome Powell pushed through a rate cut Wednesday over the broadest reservations of his nearly eight-year tenure, and in doing so, implicitly delivered a pointed message to President Trump and his own successor:
THE WALL STREET JOURNAL.
Cutting rates is harder than it looks.
The decision drew three dissents—two from officials who opposed any cut and one from a Trump ally who wanted a larger reduction.
The formal vote understated the resistance. Four other officials registered a quieter objection in the Fed’s quarterly projections: They wrote down a higher interest rate for 2025 than the one the committee approved—a signal they wouldn’t have cut. Together with the dissenters, that is roughly a third of the policymakers who attend Fed meetings.
This story is from the December 12, 2025 edition of Mint Chennai.
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