[Federal Reserve Regional Presidents Rotation Next Year, Majority Hold Hawkish Stance]
Next year, the Federal Reserve will undergo its annual rotation of four regional Fed presidents. The presidents of the Cleveland, Dallas, Philadelphia, and Minneapolis Feds will become voting members, while the presidents of the Kansas City, Chicago, Boston, and St. Louis Feds will step down. Currently, all four regional Fed presidents with voting rights lean toward a hawkish stance.
Boston Fed President Collins supported the rate cut at the last meeting but believes the threshold for further rate cuts is relatively high. St. Louis Fed President Mussa supports rate cuts but emphasizes the need for cautious implementation. Kansas City Fed President Schmid opposes rate cuts, stating that inflation remains too high. Chicago Fed President Goolsbee believes the threshold for rate cuts has risen and is concerned about inflation staying above target.
Among the presidents who will gain voting rights next year, Philadelphia Fed President may adopt a more moderate stance, but Minneapolis Fed President Kashkari remains reserved about rate cuts. Cleveland Fed President Harker and Dallas Fed President Logan are more focused on inflation and hold a cautious attitude toward rate cuts.