Three Federal Reserve officials may vote against at the September meeting, a first since 1988

ChainCatcher news, according to Jin Shi reports, the U.S. Senate on Monday confirmed Milan to take over as a Federal Reserve governor by a narrow margin, securing one vote out of 12 in the lead-up to the crucial September policy meeting of the Federal Reserve. The other two Federal Reserve governors appointed by Trump, Bowman and Waller, both voted against maintaining interest rates at the July meeting, supporting a rate cut. Analysts say that due to weaker-than-expected labor market data, these two may vote against again at the September meeting, supporting a larger rate cut. Since the early tenure of former Chairman Greenspan in 1988, the Federal Reserve has not faced a situation where three governors opposed a policy decision.