Federal Reserve dissenting members Beth Hammack, Neel Kashkari and Lorio Logan have voiced concerns about the difficulties of controlling inflation, which they consider still above the Fed’s 2% target. Despite maintaining the federal funds rate at 3.50%-3.75% during the July 2026 meeting, these three officials advocated for a 25-basis-point increase. Markets interpret these dissents as a sign of potential delays in rate hikes for the remainder of 2026, with the probability of a hike in October falling to 22.5%, down from 32% a week ago, while the probability of a hike at some point in 2026 stands at 66.5%.
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