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- Central bank chiefs in Dallas, Minneapolis, Philadelphia and Cleveland will help determine interest rates in 2020. Here's where they stand ahead of the next Fed meeting.
Central bank chiefs in Dallas, Minneapolis, Philadelphia and Cleveland will help determine interest rates in 2020. Here's where they stand ahead of the next Fed meeting.
Dallas Federal Reserve President Robert S. Kaplan
Cleveland Federal Reserve President Loretta J. Mester
Mester pushed back against the string of interest rate cuts at the end of 2019 but said that it was a tough call to make.
"I would have preferred that we just hold the interest rate where it was and wait for more signs the economy was slowing down more than anticipated," Mester said at the University of Maryland in November.
Minneapolis Federal Reserve President Neel T. Kashkari
Kashkari is viewed as the most dovish new member of the FOMC. While he has signaled a likely pause in the near-term, he repeatedly called for interest rate cuts last year. He has said the Fed should not increase borrowing costs until inflation hits a 2% target.
Philadelphia Federal Reserve President Patrick T. Harker
Harker supported the first of three interest rate cuts in 2019 but that was enough for him. He said the following were unnecessary and has advocated for a wait-and-see approach in the past.
"I'm of the mind that we stay put for now and see how things work out," Harker said at a November event in New York.
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