Three Federal Reserve officials broke ranks this week with a stark warning: tackle sticky inflation now, or pay a much steeper price later. At the conclusion of their July 28–29 meeting, the Federal Open Market Committee (FOMC) voted 9–3 to keep the benchmark federal funds rate steady at 3.50%–3.75%. However, Minneapolis Fed President Neel Kashkari, Cleveland Fed President Beth Hammack, and Dallas Fed President Lorie Logan fiercely dissented—marking the strongest pushback on the committee since 2016. Kashkari pointed to a sobering milestone: inflation has now hovered above the Fed's 2% target for more than five straight years. Related articlesGhosts of the 1970s: Why three Fed hawks voted to spike ratesChinese vice premier voices concern over US measures in callIran urges Bulgaria and Cyprus to reverse US aircraft deployment decision