While the Federal Reserve remains divided over whether to cut interest rates for a third time ahead of its last policy meeting of the year, coming changes in the composition of the committee are beginning to give shape to the direction of policy next year. Atlanta Fed president Raphael Bostic announced this week he will retire when his term ends in February, opening up a key seat that’s currently held by an interest rate hawk. If the board of the Atlanta Fed appoints a replacement with a more dovish policy view, that could help tilt the interest rate-setting committee toward more rate cuts — though Atlanta doesn’t ... (full story)