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12 angry members: why dissent is growing on the FOMC

Hardening views on wisdom of further cuts mean committee’s next meeting is unlikely to be harmonious

Various FOMC members
Credit: Images: Alamy and Federal Reserves

The members of the jury are tasked with reaching a verdict that will have far-ranging repercussions. The evidence before them is finely balanced, and although some still hope to reach an easy consensus, others caution against a rush to judgement.

The scene could be lifted straight out of 12 Angry Men, the classic film in which Henry Fonda’s conscientious Juror #8 engages in a battle of wills with Lee J Cobb’s recalcitrant Juror #3 about whether to send a defendant to the chair. And although the

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