- Federal Reserve policymakers became divided over how to keep the economy in a healthy place last year.
- That could change in 2020 as the central bank shifts the power of its policy-setting committee.
- Here’s where they stand on interest rates ahead of the next policy meeting in late January.
- Visit Business Insider’s homepage here.
When the Federal Reserve began a string of interest rate cuts last year for the first time since the global financial crisis a decade ago, policymakers had become divided over how to keep the economy in a healthy place.
With growing recession fears and escalating trade tensions, some called for more aggressive stimulus measures. Others thought action was unnecessary against a backdrop of historically low unemployment levels and robust consumer activity.
That could change in 2020 as the Fed shifts the power of its policy-setting committee. The leaders of four regional central banks — Chicago, Boston, St. Louis, and Kansas City — will lose votes in 2020 as part of a routine rotation that takes place each year.
Instead, the chiefs of Federal Reserve offices in Dallas, Minneapolis, Philadelphia and Cleveland will vote on the 12-member Federal Open Market Committee. Here’s where they stand on monetary policy ahead of the next FOMC meeting in late January.