Comment on A lone dissenting vote on the Fed's rate cut marks the first split by a central bank governor in 2 decades

Federal Reserve Board Governor Michelle BowmanReutersThe Fed's decision to cut rates by 50 basis points garnered support from 11 of 12 voting members.Fed governor Michelle Bowman dissented, marking the first split by a central bank governor since 2005.Bowman advocated for a smaller, 25 basis point cut.The Federal Reserve's jumbo rate cut garnered support from all but one of its 12 voting members.Federal Reserve Governor Michelle Bowman dissented, advocating for a smaller, 25 basis point cut as the committee opted for a large, 50 basis point cut.Bowman's dissent marks the first time a central bank governor has strayed from consensus on an interest rate decision since 2005.In the press conference following the decision, Chair Jerome Powell said the committee agreed on most points, after a lot of "back and forth" over whether to cut rates at its Jackson Hole meeting in July."We had an excellent discussion today.