Bloomberg Surveillance · Wednesday, July 29, 2026
Analysts suggest that the three dissenting votes for a rate hike indicate a strong likelihood of an increase at the September meeting. Jim Bianco noted that the dissenters signal the direction of travel and that it will be difficult for Fed Chair Kevin Warsh to maintain the status quo.
“I still would defer with Bob and think that they are going to raise rates in September. I think the descents are the most important thing because one of the things I've been emphasizing is after Trump attacking this FED for two years, they want to be independent, and they've decided that independence is twelve independent voters.”
“It will be very tough for WASH to hold the line into September. I hope Mike mc key's holding the line. Just before he goes into that news conference in about twenty five minutes time, Mike given the lack of new information here beyond just a descent.”
“I think the descents tell you the direction of travel. It will be very tough for WASH to hold the line into September.”