This Great Graphic was tweeted by Phil Izzo and was taken from the Federal Reserve Board. It tracks the dissents at the Federal Reserve. What is striking are the numerous dissents at both ends of the time line, but few in the middle, which captures the so-called bubble years.  The shaded area on the far right is the era of unconventional policy.  Â
When looking for a pattern among the regional Fed, remember that outside of the NY Fed, the other regional presidents rotate as voting members on the FOMC. Dissents from the Board of Governors are rarer, and perhaps their scarcity makes them more significant than a regional Fed dissent.Â
