PANews reported on January 5 that according to the Federal Reserve's official website, in 2025 the Federal Reserve will welcome two "hawkish" voting members, one "dovish" voting member and one neutral voting member. Chicago Fed President Austan D. Goolsbee, Boston Fed President Susan M. Collins, St. Louis Fed President Alberto G. Musalem, and Kansas City Fed President Jeffrey R. Schmid will become new rotating voting members to replace the four rotating voting members in 2024: Richmond Fed President Thomas I. Barkin, Atlanta Fed President Raphael W. Bostic, San Francisco Fed President Mary C. Daly, and Cleveland Fed President Beth M. Hammack.
Bloomberg analysis believes that in 2025, the positions of the Federal Open Market Committee (FOMC) voting members will be more dispersed, and the neutral situation will decrease, which may lead to more differences. Barron's believes that the rotating voting committee may make the Fed lean towards "hawks" in its decision-making in 2025. Reuters analysis believes that over time, Fed policymakers may find their differences again, especially when the labor market cools faster than the inflation rate. The increase in hawkish voting members in the Federal Open Market Committee may increase the risk of disagreement, although it may not change the policy outcome. The Fed's official website shows that the Fed will hold a total of 8 meetings in 2025, in January, March, May, June, July, September, October and December. The dot plot released by the Federal Reserve in December 2024 shows that the Federal Reserve has lowered the number of future interest rate cuts, reducing the number of interest rate cuts in 2025 from 4 predicted in September to 2, and the median forecast of interest rates has been raised from 3.4% in September to 3.9%.
