Eleven in favor, one against

Yesterday morning, before the FOMC met to pick an interest rate, from The Hill:

Trump’s pressure on Powell to lower rates comes to a head
Wednesday, 17 Sept 2025, 6:00 AM

"Trump has sought to reshape the Federal Reserve, pushing to remove board of governors member Lisa Cook and tapping White House economic adviser Stephen Miran to fill a vacancy.
...
Wall Street is fully expecting a rate cut, which is expected to be announced Wednesday afternoon. Futures markets were pricing in a quarter-point cut with a 96 percent probability on Monday afternoon, with a 4 percent chance of a larger, half-point cut."

 

Yesterday, after the meeting, from Reuters:

No big push for a larger rate cut, Fed's Powell says
17 Sept 2025, 2:49 PM

"There wasn't widespread support at all for a 50 basis point cut today," Powell told reporters at a press conference following the Fed's two-day meeting.

"You know ... we've done very large rate hikes and very large rate cuts in the last five years, and you tend to do those at a time when you feel that policy is out of place and needs to move quickly to a new place."

 

And this, from the Fed's Press Release after the meeting:

September 17, 2025
For release at 2:00 p.m. EDT 

"Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Susan M. Collins; Lisa D. Cook; Austan D. Goolsbee; Philip N. Jefferson; Alberto G. Musalem; Jeffrey R. Schmid; and Christopher J. Waller. Voting against this action was Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting."