Does Powell only get one FOMC vote in deciding the Target Fed Funds Rate?


Does Jerome Powell listen to the FOMC, and then independently decide the Target Fed Funds Rate?

Does each FOMC member get one vote, and then the Target Fed Funds Rate becomes the median vote?

Yes, the FOMC determines the Target Fed Funds Rate. Yes, CPI, inflation, and unemployment are factors that influence the FOMC decision for the Target Fed Funds Rate.

However, what is the ultimate process by which the Target Fed Funds Rate is determined during the eight FOMC meetings each year?


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