The Fed's first divergence in 30 years, potential controversy over interest rate cuts in the July meeting.

On July 30, a financial journalist published an article stating that there may be two dissenting votes at this week's Fed meeting, a situation that has not occurred in over 30 years (or 259 consecutive policy meetings).

"Powell and some of his colleagues have expressed a tendency to maintain a wait-and-see attitude at this week's meeting, while potential dissenters—Fed governors Waller and Bowman—happen to be two appointees of President Trump. Both have expressed support for rate cuts, and Trump has publicly called for rate cuts. Regardless of Powell's decision, divisions this week may be inevitable—if the Fed cuts rates, it may face opposition from hawks worried about inflation reigniting."