'We look over 15 years, a lot of mistakes were made. You think there would be some more lively discussion,' and more dissenters on the Fed, says the longtime stock market bull.
. There were other dissenting votes during that period from regional Fed presidents. But Olson was the only Fed governor to voice opposition.
There are 12 voting members of the FOMC, consisting of seven Fed board governors who always vote; the New York Fed president who always votes; and four rotating regional Fed presidents. "We look over 15 years, a lot of mistakes were made. You think there would be some more lively discussion," Siegel said in Wednesday'sinterview, while blasting the Fed for hiking rates in December, even in the face of a stock market collapse, and signalling at least two more increases in 2019.
"If I were on the board, I would have dissented. I think they were not looking at the signals in the marketplace," he said. "By the way, they admitted it. They made a pivot a couple weeks later. But why did we need the market to fall 20% during that period?" He added, "I would like a little more split votes. It's not like the Supreme Court where we get 5-4 decisions. It's like 12 to nothing, 12 to nothing, 12 to nothing."rocketed higher, reaching new record highs this week and last week not since the fall before the bottom dropped out on Wall Street.
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