Michelle Bowman, a governor on the Federal Reserve Board, became the first Fed official since 2005 to vote against the central bank’s interest rate decision when she dissented Wednesday against the Fed’s move to cut rates by 50 basis points. Bowman was the only Fed governor to break with the 11 other voting members who cast their ballots in favor of the Federal Reserve’s move to slash interest rates by half a percentage point. It marked the central bank’s first rate reduction after a nearly two-and-a-half-year crusade against inflation during the COVID-19 pandemic. Bowman preferred a quarter-point rate cut, the Fed said. She has expressed concerns in the past that the war against in
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