1. Cleveland Fed President Hamack: I leaned towards raising interest rates at the recent meeting because I believe the current policy stance is insufficiently restrictive. (2026 voting member)
2. Dallas Fed President Logan: Even after removing recent shocks, core inflation is still close to 2.5%, which I believe justifies a tighter policy stance. (2026 voting member)
3. Minneapolis Fed President Kashkari: To prevent high inflation from becoming entrenched, I prefer to gradually tighten policy while gathering more data on the path of inflation and employment. If inflation remains high, in my view, taking a series of small policy actions is better than waiting for a final determination that even stronger measures are needed. (2026 voting member)
4. Kansas City Fed President Schmid: Given the strong momentum in demand and investment, I don't believe the current monetary policy stance is restrictive. Therefore, I believe a tighter policy is needed to bring inflation down to the Fed's 2% target. (2028 Voting Member)
5. St. Louis Fed President Musaleem: This week's sell-off in the U.S. Treasury market is a signal that the Fed must earn credibility by raising interest rates. There are indeed very significant and substantial supply shocks in the global and U.S. economies, and people in my district, both businesses and households, continue to report across-the-board price increases for goods and services. (2028 Voting Member)
Note: Five of the 12 regional Fed presidents have expressed support for a rate hike after the July meeting. Based on the last meeting, all seven board members, New York Fed President Williams, and Philadelphia Fed President Paulson currently support holding rates steady.
