Three Dissenting Votes Appear Simultaneously, Pressure for Rate Hikes Intensifies within the Federal Reserve

According to Odaily Planet Daily, in this interest rate decision meeting, among the five regional Federal Reserve Bank presidents who are voting members of the Federal Open Market Committee, three cast dissenting votes, namely Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan. The three unanimously advocated for a 25 basis point rate hike. This marks the first time since September 2016 that the Federal Reserve has seen three dissenting votes in the same direction on a single policy decision, reflecting that voices within the Fed supporting tighter policy are strengthening.

Fed Chair Jerome Powell, who supports keeping interest rates unchanged, has consistently emphasized that the Fed has a responsibility to curb inflation. He is expected to be asked during his press conference at 2:30 AM Beijing time why he believes maintaining patience remains the most appropriate policy choice for now. (Jin Shi)