Andrew Bailey

Money Moves

Casting-vote rate cutter as the committee nears a contested “neutral” level

This cut had courtroom drama energy. The Bank of England dropped rates to 3.75%—but only because Governor Andrew Bailey switched his vote and made it 5–4. The immediate market read was hawkish-by-UK-standards: sterling rose and gilt yields ticked higher as traders pared back expectations for rapid 2026 easing.

Updated May 15

Rule Changes

Filed the core lawsuit that first put SAVE under the Eighth Circuit’s microscope.

Biden sold the SAVE plan as a fix for millions facing a broken student loan system: smaller payments, faster forgiveness, and protection from ballooning interest.

Updated May 10