---
title: "As highlighted by Jim Bianco, isn't the \"Fed consensus\" just an illusion?"
description: "See the labels in the dot plot below: one member of the FOMC thinks the Fed is going to HIKE rates this year. One (Stephen Miran) thinks it is going to cut 1.25% this year (5 cuts over two meetings).\n\nAnd see the spread of dots above (from highest to lowest), the FOMC is showing little to no agreement on what they should do. \n\nSo on one hand there is an 11-1 vote\nOn the other hand they published a wide dot plot... \n\nAdd to this is Powell using the term \"Risk Management\" to describe this cut...\n\nIt could thus be that \"Risk Management\" cut is a political decision. As Jim Bianco said \"he wants to get Trump off his back\". \n\nSource: Bianco Research"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [As highlighted by Jim Bianco, isn't the "Fed consensus" just an illusion?](https://blog.syzgroup.com/syz-the-moment/as-highlighted-by-jim-bianco-isnt-the-fed-consensus-just-an-illusion)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Sep 18, 2025, 12:13:26 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/as-highlighted-by-jim-bianco-isnt-the-fed-consensus-just-an-illusion)

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