April 2 (Reuters) - Federal Reserve policymakers held short-term borrowing costs steady at their March 17-18 meeting, as they did in January. As a group they continued to pencil in one interest-rate cut this year, but the rate path is unusually uncertain given the Iran conflict and the surge in oil prices, Fed Chair Jerome Powell said. 

Here is a look at Fed officials' recent comments, sorting them under the labels "dove" and "hawk" as shorthand for their monetary policy leanings. A dove is more focused on risks to the labor market and may want to cut rates more quickly, while a hawk is more focused on the threat of inflation and may be more cautious about rate cuts.

A graphic is also available. 

The designations are based on public comments and published remarks. To see how Reuters' counts in each category have changed, please scroll to the bottom of this story.

Dove Dovish Centrist Hawkish Hawk

Christop Mary Jerome Lisa Beth

her Daly, Powell, Cook, Hammack,

Waller, San Fed Governor Clevelan

Governor Francisc Chair, , d Fed

, o Fed permanen permanen Presiden

permanen Presiden t voter: t voter: t, 2026

t voter: t, 2027 "We feel "I would voter:

"I just voter: like our argue "When I

want to "There policy's that the look at

wait and is no in a inflatio things

see single good n risk broadly,

where most-lik place is to me it

this ely for us greater seems

goes, path...W to wait right like

and if ith and now as a there

things policy see." result are

go in a March of the two-side

reasonab good 30, 2026 Iran d risks

ly well place, war." to

and the we need March rates." 

labor to 26, 2026 March 6,

market remain 2026

continue flexible

s to be , able

weak, I to

would respond

start to

advocati rapidly

ng again evolving

for risks."

cutting March

the 23, 2026

policy

rate

later

this

year."

March

20, 2026

Stephen   John Neel Lorie

Miran, Williams Kashkari Logan,

Governor , New , Dallas

, York Fed Minneapo Fed

permanen Presiden lis Fed Presiden

t voter: t, Presiden t, 2026

 "I permanen t, 2026 voter:

think t voter: voter: "I think

that we "The "We need policy

could be current to see is

about a stance with position

point of this new ed to

easier, monetary shock, adjust

graduall policy potentia to the

y done is well lly a data as

over the position new it's

course ed to shock coming

of a balance hitting in, and

year." the the we're

March risks to global prepared

30, 2026 our economy. to make

maximum ..how adjustme

employme long is nts to

nt and the the

price effect, policy

stabilit and how path as

y big is appropri

goals." the ate."

March effect?" April 2,

30, 2026 March 3, 2026

2026    

Michelle   Austan Jeffrey

Bowman, Goolsbee Schmid,

Vice Philip , Kansas

Chair Jefferso Chicago City Fed

for n, Vice Fed Presiden

Supervis Chair, Presiden t, 2028

ion, permanen t, 2027 voter:

permanen t voter: voter: "I don't

t voter: "The "At the think we

"I've current moment I can be

written policy think complace

three inflatio nt about

cuts in n has the

for, stance got to risks to

before be a inflatio

the end little n

of 2026 should ahead of expectat

to continue employme ions."

hopefull to nt" as a March

y support Fed 31, 2026

support the priority

the labor . March

labor market 23, 2026

market." while

March allowing

20, 2026 inflatio

n to

resume

its

decline

toward

our 2%

target

as the

effects

of

tariff

pass-thr

ough are

complete

d."

March

26, 2026

    Michael Thomas  

Barr, Barkin,

Governor Richmond

, Fed

permanen Presiden

t voter: t, 2027

"I am voter:

particul "The

arly hike

concerne case

d that would be

yet around

another inflatio

price n

shock expectat

could ions

increase starting

longer-t to

erm finally

inflatio move....

n I don't

expectat have a

ions." sense

March that

26, 2026 they've

broken

out at

this

point."

March

31, 2026

    Susan  

Anna Collins,

Paulson, Boston

Philadel Fed

phia Fed Presiden

Presiden t, 2028

t, 2026 voter:

voter: " "Based

There's on my

a little outlook

bit more I see a

of a patient,

risk delibera

that the te

transmis approach

sion of as

higher appropri

fuel ate...I

prices, do not

higher see an

fertiliz urgency

er for

prices, addition

into al

inflatio policy

n adjustme

expectat nts."

ions is, March 6,

you 2026

know,  

faster

and

maybe a

little

bit more

durable...

.I'm

worried

about

that."

March

27, 2026

      Alberto  

  Musalem,

St.

Louis

Fed

Presiden

t, 2028

voter:

"I

expect

the

current

setting

of the

policy

rate

will

remain

appropri

ate for

some

time."

April 1,

2026

Notes: The current policy rate target range is 3.50%-3.75%. The median of Fed policymaker projections in March was for one quarter-percentage-point cut by the end of 2026.

The Fed's seven governors, including the central bank chief and vice chairs, are nominated by the president and confirmed by the Senate. Each of them votes at every Federal Open Market Committee meeting, held eight times a year.

Miran, Waller and Bowman are Trump nominees. Barr, Jefferson and Cook - whom Trump is attempting to fire - were nominated by former President Joe Biden. Powell was initially nominated to the Fed's Board of Governors by former President Barack Obama, elevated to the top Fed job by Trump in his first term, and renominated to that position by Biden. Trump plans to nominate former Fed Governor Kevin Warsh to succeed Powell when his chair term ends in mid-May.

All 12 regional Fed presidents discuss and debate monetary policy at the meetings, but only five cast votes, including the New York Fed president and four others who vote for one year at a time on a rotating schedule. Fed regional bank presidents are picked by the directors of their own regional banks, subject to approval by the Fed's board.

Reuters over time has shifted policymaker designations based on fresh comments and developing circumstances. Below is a Reuters count of policymakers in each category, heading into Fed meetings. 

FOMC Dove Dovis Centr Hawki Hawk

Date h ist sh

April 3 1 5 6 3

'26

March 3 2 4 6 3

'26

Jan. 3 2 5 6 3

'26

Dec. 3 1 6 6 3

'25

Oct. 3 2 9 4 1

'25

Sept. 2 3 8 5 0

'25

July 1 3 8 7  0

'25

Jan.- 0 3 9 7 0

June

'25

Dec. 0 2 10 7 0

'24

Nov. 0 0 13 5 0

'24

Sept. 0 1 12 5 0

'24

May 0 1 10 6 1

throu

gh

July

'24

March 0 1 11 5 1

'24

Jan. 0 2 9 4 1

'24

Dec. 0 2 9 4 1

'23

Oct./ 0 2 7 5 2

Nov.

'23

Sept. 0 4 3 6 3

'23

June 0 3 3 8 3

'23

March 0 2 3 10 2

'23

Dec. 0 4 1 12 2

'22