Up to ___ Fed _______ could dissent at this weeks meeting

• A. 0
• B. 3
• C. 5
• D. 1

Answer: (B)

Dissent in a Fed meeting comes from members of the FOMC who vote against the majority. The voting group consists of 12 policymakers: the seven members of the Board of Governors and five rotating Reserve Bank presidents. Any of these voting members could disagree with the majority, but in practice the number of dissents in a single meeting is typically small. Historically, the largest number of dissents seen in a single meeting has been three, so saying up to three could dissent reflects how these meetings usually play out. Unanimity (zero dissent) is possible, and having more than three dissidents is uncommon, which is why three is the best fit for this week’s meeting.