After each FOMC member expresses their assessment of the economy, inflation, the labor market, and the appropriate level for the Funds rate during a FOMC meeting, Federal Reserve Chairs have attempted to build a consensus. During Ben Bernanke’s term as Chair (February 1, 2006, to January 31, 2014) there were no dissents by the 7 Federal Reserve governors, even during the Financial Crisis and its aftermath. In the time that Janet Yellen served as Chair (February 3, 2014, to February 4, 2018), no Fed governor dissented at any meeting. The consensus building, or as some...
