Federal Reserve faces its most divided vote in years as three officials push for rate hike

Reuters reporter Ann Saphir noted that policymakers resisted supporting the rate hike and did not defer to the chairman during the meeting. Three dissenters, one messageDallas Fed President Lorie Logan, Minneapolis Fed President Neel Kashkari, and Cleveland Fed President Beth Hammack all voted against holding rates steady. It’s the fact that three officials were willing to publicly break from the chair on a closely watched decision after ten consecutive rate hikes had already been implemented. The crypto and risk asset angleTen consecutive rate hikes had been steadily tightening financial conditions and pulling liquidity out of speculative markets. The 57% probability of a September hike means this outcome is very much on the table.