Definition
The 12 members who vote on interest rates at each FOMC (Federal Open Market Committee) meeting.
The story
The seven governors and the president of the New York Fed always vote. The other four votes rotate each year, on a set schedule, among the remaining 11 regional Fed presidents. At the Oct 28, 2026 meeting, the vote was 10 to 2, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of a hike.
Why markets watch it
Knowing who votes this year helps make sense of which speeches matter most for the next decision.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms