Federal Reserve officials Beth Hammack and Neel Kashkari dissented at the July 28-29 FOMC meeting, advocating for a 25-basis-point increase in the federal funds rate. The majority of the committee chose to maintain rates in the 3.50%-3.75% range. Kevin Hassett expressed the opposing view, stating there is no compelling case for further rate hikes. Market pricing currently indicates unchanged rates at the October 2026 meeting. Upcoming FOMC communications and economic data releases, particularly inflation and employment indicators, will be key in shaping rate expectations.
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