Why the Fed is so divided right now, according to a former governor

December 2, 2025, Audio: "President Donald Trump said Tuesday that he’ll announce his pick for the next chair of the Federal Reserve early next year. Jerome Powell’s term runs until May, meaning he has several more FOMC meetings to lead, including one next week. In the last meeting, there was dissent among the FOMC members about what they thought should happen with interest rates. For an inside perspective on why dissent within the FOMC matters, “Marketplace” host Kai Ryssdal spoke with Daniel Tarullo. He was on the Fed board for eight and a half years and is currently a professor at Harvard Law School."