Fed Chairman Kevin Warsh faces rate-hike vote and policy split

  • Fed Chairman Kevin Warsh will count votes on a rate hike and monetary policy direction.
  • The Federal Open Market Committee split 9-3 at its July meeting.
  • Fed officials disagree over whether recent inflation pressures are temporary or persistent.

Fed Chairman Kevin Warsh will be counting votes this week on a widely anticipated rate hike and the future direction of monetary policy. The Federal Open Market Committee will meet for two days on Tuesday and Wednesday, following a 9-3 split in July that highlighted divisions over the path ahead. Fed officials remain divided between those who view inflation as temporary and those who fear recent price pressures could become more deeply entrenched.

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