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Three Fed Officials Who Opposed Rate Hold Call for Immediate Hike

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  1. 1Fed officials who opposed this week's rate freeze called for an immediate hike on Friday
  2. 2Cleveland's Hammack, Minneapolis's Kashkari, and Dallas's Logan dissented from holding the benchmark rate at 3.5–3.75%, while the remaining nine members backed the decision
  3. 3Hammack said action must be taken now to accelerate the return of PCE inflation to the 2% target, warning that the longer high prices persist, the greater the cost

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