Three Fed Officials Dissent in Same Direction for First Time in a Decade

Three regional Fed presidents voted against the FOMC's July 29, 2026 decision to hold rates steady, favoring a hike instead. The coordinated dissent — the largest in one direction in a decade — came as PCE inflation sat at 3.7% year-over-year in June, far above the Fed's 2% target. Chair Kevin Warsh acknowledged inflation has remained too high for years.