Why MPC chairmen are (almost) always in the majority
Chairman's agenda-setting power is a key source of their heavy influence of the outcome of rate decisions, research published by Norges Bank finds.
The research states: "Other members are often reluctant to challenge the chairman's proposal, and this gives him an extra layer of decision power."
During his 18 years at the helm of the Fed, Alan Greenspan was never on the losing side of a rate vote.
However, Mervyn King, the governor of the Bank of England, has twice been outvoted during his time
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