According to ChainCatcher news and the Federal Reserve's official website, in 2025 the Federal Reserve welcomed 2 'hawkish' voting members, 1 'dovish' voting member, and 1 neutral voting member:
New voting members:
Chicago Fed President Austan D. Goolsbee
Boston Fed President Susan M. Collins
St. Louis Fed President Alberto G. Musalem
Kansas City Fed President Jeffrey R. Schmid
Replaced voting members:
Richmond Fed President Thomas I. Barkin
Atlanta Fed President Raphael W. Bostic
San Francisco Fed President Mary C. Daly
Cleveland Fed President Beth M. Hammack
Changes in the Federal Reserve's voting committee may lead to policy tendencies. Bloomberg believes that the dispersion of committee positions may lead to more disagreements; Barron's thinks that the rotation of voting committee members may tilt the Federal Reserve towards a hawkish stance in its 2025 decisions; Reuters believes that an increase in disagreements among committee members may exacerbate risks in policy-making.
In addition, the Federal Reserve will hold 8 meetings in 2025, scheduled for January, March, May, June, July, September, October, and December. According to the dot plot from December 2024, the Federal Reserve has lowered the expected number of future rate cuts:
The number of rate cuts in 2025 decreased from a predicted 4 times in September to 2 times.
The median interest rate forecast was raised from 3.4% in September to 3.9%