Three Fed Officials Dissent Together for First Time in a Decade

Three regional Fed presidents opposed the July 29, 2026 decision to hold interest rates steady, all favoring a hike instead. It was the largest one-direction dissent in a decade. June PCE inflation — a key price gauge — sat at 3.7% year-over-year, far above the Fed's 2% target. Chair Kevin Warsh acknowledged inflation has stayed too high for years.