Federal Reserve chair Kevin Warsh faces 3 FOMC dissents

Business Jul 30, 2026

Federal Reserve Chairman Kevin Warsh is off to a rocky start.

At his second meeting on July 29, three members of the Federal Open Market Committee, or FOMC, voted against keeping interest rates steady.

That is the most early dissent any Fed official has seen since the 1970s, making this moment pretty historic.

Early Fed dissent last seen 1970

Dissent this soon is unusual. The last time a chair saw three members disagree so early was way back in 1970 with Arthur Burns.

Most recent chairs faced far less pushback at first. Janet Yellen had just one dissent, and Jerome Powell didn't see disagreement until much later.

Warsh's divided committee shows just how tricky today's economic decisions are, especially with inflation and growth up for debate.