The Fed will welcome the rotation of regional presidents, with both the old and new teams showing hawkish attitudes.

BlockBeats news, on November 17, next year the Fed will welcome the annual rotation of four regional Fed presidents. Among the 12 regional Fed presidents, five have voting rights each year—four of which rotate annually, while the New York Fed has permanent voting rights. In 2026, the presidents of the Cleveland, Dallas, Philadelphia, and Minneapolis Feds will become voting members, while the presidents of the Kansas City, Chicago, Boston, and St. Louis Feds will rotate out. Currently, all four regional Fed presidents with voting rights lean towards a hawkish stance. Boston Fed President Collins stated this week that although she supported the interest rate cut at the last meeting, the threshold for further rate cuts is “relatively high,” and maintaining the interest rate at current levels “for a period of time” may be appropriate. St. Louis Fed President Musalem expressed support for the last meeting's rate cut last week but emphasized that subsequent moves “need to be cautious because there is limited room for further easing without making monetary policy excessively loose.” Kansas City Fed President Schmidt reiterated last Friday that inflation “remains too high,” and although tariffs may drive up prices, he voted against the rate cut at the September meeting. Chicago Fed President Goolsbee previously stated that the threshold for another rate cut has been raised and admitted concerns about inflation remaining above the 2% target for nearly five years and deviating from the trend. The regional Fed presidents who will gain voting rights next year also show a hawkish inclination. While the inclusion of the Philadelphia Fed president may moderate the committee's stance, Minneapolis Fed President Kashkari is cautious about further rate cuts, emphasizing the economy's inherent resilience. Meanwhile, Cleveland Fed President Harmack and Dallas Fed President Logan both clearly express greater concern about inflation issues and take a cautious attitude towards rate cuts.