Votes
Every FOMC decision since January 2020
Tallies and dissenters come from the voting paragraph of each FOMC statement. The direction of a dissent is read from the stated preference in that paragraph.
Source: FOMC statements, federalreserve.gov. From June 2026 the statements name only dissenters; majorities are inferred from the voting roster.
12Hikes
8Cuts
36Holds
12Dissents in 2026
17Longest unanimous streak
Dissent heatmap
Each column is a meeting, oldest on the left. Only members who have dissented are shown.
| Member | Dissents | 20 01 | 20 03 | 20 03 | 20 03 | 20 04 | 20 06 | 20 07 | 20 09 | 20 11 | 20 12 | 21 01 | 21 03 | 21 04 | 21 06 | 21 07 | 21 09 | 21 11 | 21 12 | 22 01 | 22 03 | 22 05 | 22 06 | 22 07 | 22 09 | 22 11 | 22 12 | 23 02 | 23 03 | 23 05 | 23 06 | 23 07 | 23 09 | 23 11 | 23 12 | 24 01 | 24 03 | 24 05 | 24 06 | 24 07 | 24 09 | 24 11 | 24 12 | 25 01 | 25 03 | 25 05 | 25 06 | 25 07 | 25 09 | 25 10 | 25 12 | 26 01 | 26 03 | 26 04 | 26 06 | 26 07 | 26 09 | 26 10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stephen I. Miran | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Beth M. Hammack | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Neel Kashkari | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Christopher J. Waller | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lorie K. Logan | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Michelle W. Bowman | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lisa D. Cook | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Austan D. Goolsbee | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Jeffrey R. Schmid | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Esther L. George | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| James Bullard | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Robert S. Kaplan | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loretta J. Mester | 1 |
for a hike for a cut for a hold other with majority not voting
Decisions
| Date | Action | Target range | Vote | Dissents |
|---|---|---|---|---|
| October 28, 2026 | hold | 3.75–4.00% | 10–2 | Lisa D. Cook for a hike Preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. Beth M. Hammack for a hike Preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. |
| September 16, 2026 SEP | hike | 3.75–4.00% | 12–0 | Unanimous |
| July 29, 2026 | hold | 3.50–3.75% | 9–3 | Beth M. Hammack for a hike Preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. Neel Kashkari for a hike Preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. Lorie K. Logan for a hike Preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. |
| June 17, 2026 SEP | hold | 3.50–3.75% | 12–0 | Unanimous |
| April 29, 2026 | hold | 3.50–3.75% | 8–4 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. Beth M. Hammack for a hold Supported maintaining the target range for the federal funds rate but did not support inclusion of an easing bias in the statement at this time. Neel Kashkari for a hold Supported maintaining the target range for the federal funds rate but did not support inclusion of an easing bias in the statement at this time. Lorie K. Logan for a hold Supported maintaining the target range for the federal funds rate but did not support inclusion of an easing bias in the statement at this time. |
| March 18, 2026 SEP | hold | 3.50–3.75% | 11–1 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. |
| January 28, 2026 | hold | 3.50–3.75% | 10–2 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. Christopher J. Waller for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. |
| December 10, 2025 SEP | cut | 3.50–3.75% | 9–3 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting. Austan D. Goolsbee for a hold Preferred no change to the target range for the federal funds rate at this meeting. Jeffrey R. Schmid for a hold Preferred no change to the target range for the federal funds rate at this meeting. |
| October 29, 2025 | cut | 3.75–4.00% | 10–1 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting, and Jeffrey R. Schmid, who preferred no change to the target range for the federal funds rate at this meeting. |
| September 17, 2025 SEP | cut | 4.00–4.25% | 11–1 | Stephen I. Miran for a cut Preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting. |
| July 30, 2025 unscheduled | hold | 4.25–4.50% | 9–2 | Michelle W. Bowman for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. Absent and not voting was Adriana D. Kugler. Christopher J. Waller for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. Absent and not voting was Adriana D. Kugler. |
| June 18, 2025 SEP | hold | 4.25–4.50% | 12–0 | Unanimous |
| May 7, 2025 | hold | 4.25–4.50% | 12–0 | Unanimous |
| March 19, 2025 SEP | hold | 4.25–4.50% | 11–1 | Christopher J. Waller for a hold Supported no change for the federal funds target range but preferred to continue the current pace of decline in securities holdings. |
| January 29, 2025 | hold | 4.25–4.50% | 12–0 | Unanimous |
| December 18, 2024 SEP | cut | 4.25–4.50% | 11–1 | Beth M. Hammack for a hold Preferred to maintain the target range for the federal funds rate at 4-1/2 to 4-3/4 percent. |
| November 7, 2024 | cut | 4.50–4.75% | 12–0 | Unanimous |
| September 18, 2024 SEP | cut | 4.75–5.00% | 11–1 | Michelle W. Bowman for a cut Preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. |
| July 31, 2024 | hold | 5.25–5.50% | 12–0 | Unanimous |
| June 12, 2024 SEP | hold | 5.25–5.50% | 12–0 | Unanimous |
| May 1, 2024 | hold | 5.25–5.50% | 12–0 | Unanimous |
| March 20, 2024 SEP | hold | 5.25–5.50% | 12–0 | Unanimous |
| January 31, 2024 | hold | 5.25–5.50% | 12–0 | Unanimous |
| December 13, 2023 SEP | hold | 5.25–5.50% | 12–0 | Unanimous |
| November 1, 2023 | hold | 5.25–5.50% | 12–0 | Unanimous |
| September 20, 2023 SEP | hold | 5.25–5.50% | 12–0 | Unanimous |
| July 26, 2023 | hike | 5.25–5.50% | 11–0 | Unanimous |
| June 14, 2023 SEP | hold | 5.00–5.25% | 11–0 | Unanimous |
| May 3, 2023 | hike | 5.00–5.25% | 11–0 | Unanimous |
| March 22, 2023 SEP | hike | 4.75–5.00% | 11–0 | Unanimous |
| February 1, 2023 | hike | 4.50–4.75% | 12–0 | Unanimous |
| December 14, 2022 SEP | hike | 4.25–4.50% | 12–0 | Unanimous |
| November 2, 2022 | hike | 3.75–4.00% | 12–0 | Unanimous |
| September 21, 2022 SEP | hike | 3.00–3.25% | 12–0 | Unanimous |
| July 27, 2022 | hike | 2.25–2.50% | 12–0 | Unanimous |
| June 15, 2022 SEP | hike | 1.50–1.75% | 10–1 | Esther L. George other Preferred at this meeting to raise the target range for the federal funds rate by 0.5 percentage point to 1-1/4 percent to 1-1/2 percent. |
| May 4, 2022 | hike | 0.75–1.00% | 9–0 | Unanimous |
| March 16, 2022 SEP | hike | 0.25–0.50% | 8–1 | James Bullard other Preferred at this meeting to raise the target range for the federal funds rate by 0.5 percentage point to 1/2 to 3/4 percent. |
| January 26, 2022 | hold | 0.00–0.25% | 9–0 | Unanimous |
| December 15, 2021 SEP | hold | 0.00–0.25% | 11–0 | Unanimous |
| November 3, 2021 | hold | 0.00–0.25% | 11–0 | Unanimous |
| September 22, 2021 SEP | hold | 0.00–0.25% | 11–0 | Unanimous |
| July 28, 2021 | hold | 0.00–0.25% | 11–0 | Unanimous |
| June 16, 2021 SEP | hold | 0.00–0.25% | 11–0 | Unanimous |
| April 28, 2021 | hold | 0.00–0.25% | 11–0 | Unanimous |
| March 17, 2021 SEP | hold | 0.00–0.25% | 11–0 | Unanimous |
| January 27, 2021 | hold | 0.00–0.25% | 11–0 | Unanimous |
| December 16, 2020 | hold | 0.00–0.25% | 10–0 | Unanimous |
| November 5, 2020 | hold | 0.00–0.25% | 10–0 | Unanimous |
| September 16, 2020 | hold | 0.00–0.25% | 8–2 | Robert S. Kaplan other Expects that it will be appropriate to maintain the current target range until the Committee is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals as articulated in its new policy strategy statement, but prefers that the Committee retain greater policy rate flexibility beyond that point. Neel Kashkari other Prefers that the Committee indicate that it expects to maintain the current target range until core inflation has reached 2 percent on a sustained basis. |
| July 29, 2020 | hold | 0.00–0.25% | 10–0 | Unanimous |
| June 10, 2020 | hold | 0.00–0.25% | 10–0 | Unanimous |
| April 29, 2020 | hold | 0.00–0.25% | 10–0 | Unanimous |
| March 23, 2020 unscheduled | other | — | 10–0 | Unanimous |
| March 15, 2020 unscheduled | cut | 0.00–0.25% | 9–1 | Loretta J. Mester for a cut Was fully supportive of all of the actions taken to promote the smooth functioning of markets and the flow of credit to households and businesses but preferred to reduce the target range for the federal funds rate to 1/2 to 3/4 percent at this meeting. |
| March 3, 2020 | cut | 1.00–1.25% | 10–0 | Unanimous |
| January 29, 2020 | hold | 1.50–1.75% | 10–0 | Unanimous |
Who dissents
| Member | Dissents | For a hike | For a cut | For a hold | Other |
|---|---|---|---|---|---|
| Stephen I. Miran | 6 | 0 | 6 | 0 | 0 |
| Beth M. Hammack | 4 | 2 | 0 | 2 | 0 |
| Neel Kashkari | 3 | 1 | 0 | 1 | 1 |
| Christopher J. Waller | 3 | 0 | 2 | 1 | 0 |
| Lorie K. Logan | 2 | 1 | 0 | 1 | 0 |
| Michelle W. Bowman | 2 | 0 | 2 | 0 | 0 |
| Lisa D. Cook | 1 | 1 | 0 | 0 | 0 |
| Austan D. Goolsbee | 1 | 0 | 0 | 1 | 0 |
| Jeffrey R. Schmid | 1 | 0 | 0 | 1 | 0 |
| Esther L. George | 1 | 0 | 0 | 0 | 1 |
| James Bullard | 1 | 0 | 0 | 0 | 1 |
| Robert S. Kaplan | 1 | 0 | 0 | 0 | 1 |
| Loretta J. Mester | 1 | 0 | 1 | 0 | 0 |