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What a Dissent Is

A vote against the action is a sentence in the statement. It is not a rebellion, and it is not a forecast.

By Samuel Ives, Opinion Editor

Washington1 min read

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grocery store aisle with stocked shelvesPhoto by Franki Chamaki on Unsplash

A dissent at the Federal Reserve is a recorded preference. The statement names the voter and the action they preferred, when there is a dissent. That is the fact. The atmosphere people add — a crack in the institution, a signal of the next meeting — is commentary.

I think commentary is fine in an opinion column and dangerous in a news lede. A 10–2 vote is not a 12–0 vote. Say so, because the statement says so. Do not then write the next meeting. The dissenters have told you what they wanted this time. They have not signed the following statement.

The same rule applies when the vote is unanimous. Unanimity is not calm, and it is not permanence. It is a count. Treat the count as a count.

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