What would the Fed do in a tie vote? It’s not clear, and the Bank of England had to break a deadlock this month
BY JASON MA WEEKEND EDITOR
The Federal Reserve is in uncharted waters after President Donald Trump took the unprecedented step to fire Fed Governor Lisa Cook, potentially adding to the turnover among policymakers and an expected rise in split votes. That raises the question of what would happen if there was a tie on the Federal Open Market Committee.
Bazini Hopp client, Christopher Hodge provides expert insight on the situation:
It’s not a far-fetched possibility. According to a note last month from Christopher Hodge, chief U.S. economist at Natixis CIB Americas, there have been three occasions when a decision on the FOMC passed by a one-vote majority, though the last time it occurred was in 1973.
Read the full article at FORTUNE.com.