Fed's big cut may have been closer call than lone dissent suggests

The Federal Reserve's big bang start on Wednesday to what's expected to be more interest-rate cuts this year and next may have had the full support of only a slim majority of the central bank's 19 policymakers, a look at their rate-path projections suggests. That's a closer call than the lone formal dissent, cast by Fed Governor Michelle Bowman, suggests. As many as nine of the Fed's 19 policymakers may also have raised objections to some degree, or gone along only reluctantly, according to analysts who have parsed the decision over the 24 hours since.