Three Federal Reserve policymakers said their dissenting votes for a rate increase this week were driven by persistent inflation, increasing internal hawkish pressure on Fed Chair Kevin Warsh. In a Friday statement, Hamak and Kashkari said they worry that while recent price gains may partly reflect President Trump’s tariffs and the Iran conflict, inflation now warrants Fed action. Logan joined, saying even if inflation cools it is unlikely to return fully to the Fed’s 2% target without tighter p

Three Federal Reserve policymakers said their dissenting votes for a rate increase this week were driven by persistent inflation, increasing internal hawkish pressure on Fed Chair Kevin Warsh. In a Friday statement, Hamak and Kashkari said they worry that while recent price gains may partly reflect President Trump’s tariffs and the Iran conflict, inflation now warrants Fed action. Logan joined, saying even if inflation cools it is unlikely to return fully to the Fed’s 2% target without tighter policy; absent policy restraint inflation could remain above target until an external shock. Kashkari said he may support a series of rate hikes rather than a single increase to prevent inflation from becoming entrenched. Hamak warned that without policy tightening price growth could accelerate and said she lacks confidence inflation will revert to 2% on its own after running above target for more than five years.