Five of 12 Federal Reserve regional presidents signaled support for rate hikes
after the July meeting. The Cleveland Fed president (2026 voter) said he leaned
toward a hike, viewing policy as insufficiently restrictive. Dallas Fed
president Lorie Logan (2026 voter) said core inf, excluding recent shocks,
remains near 2.5%, arguing for tighter policy. Minneapolis Fed president Neel
Kashkari (2026 voter) prefers gradual tightening while gathering more inf and
jobs data, saying a sequence of small moves is preferable to waiting and risking
larger action later. The Kansas City Fed president (2028 voter) said strong
demand and investment mean policy is not restrictive and tighter policy is
needed to bring inf to the Fed’s 2% goal. The St. Louis Fed president (2028
voter) said this week’s U.S. Treasury sell‑off signals the Fed must raise rates
to preserve credibility, citing significant supply shocks and broad price
increases reported by firms and households. Note: at the last meeting seven
Board governors plus New York Fed president John Williams and the Philadelphia
Fed president supported holding policy steady.
