Three dissenting votes emerge simultaneously, raising pressure within the Federal Reserve for a rate hike

Odaily reported that in this interest rate decision, among the five regional Fed presidents who are voting members of the Federal Open Market Committee, three voted against the decision — Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan. All three unanimously advocated for a 25-basis-point rate hike. This marks the first time since September 2016 that the Fed has seen three dissenting votes in the same direction during a single policy decision, reflecting a growing internal push for tighter policy.

Fed Chair Jerome Powell, who supported keeping rates unchanged, has consistently emphasized the Fed's responsibility to curb inflation. He is expected to be questioned during his press conference at 2:30 AM Beijing time about why he believes maintaining patience remains the most appropriate policy choice at this time. (Jin Shi)