Why the Fed Vote Tally Matters More Than the Decision
The FOMC (Federal Open Market Committee) is currently holding its July meeting and a decision on benchmark lending rates is expected on Wednesday when this meeting ends. While news outlets will be focusing more on whether the Fed decides to retain the current lending rate or increase it, we think the more useful metric to watch is how each FOMC member votes. Markets largely expect the Fed to hold its current benchmark lending rate, so it won’t be surprising when the press conference at the end of the meeting announces that decision. Astute investors will be paying attention to the…