Fed Dissenters Prepare to Mutiny Against Warsh

Fed Chair Kevin Warsh's reluctance to raise interest rates has sparked dissent among FOMC members, with three voting against his decision.

The unusual level of uncertainty ahead of the meeting led some speculators in Fed futures to expect a rate hike, which was not the outcome.

Warsh's remarks sent stocks tumbling and bond yields rising, wiping 1.41% off the value of the U.S. dollar.

The dissenters are expected to 'mutiny' against Warsh in the next meeting in September, with some experts predicting that they will be able to sway policy in their favor.