The three dissenting votes were cast by Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan – each of whom raised concerns about inflation persisting above the central bank's 2% target and said they would've preferred raising the federal funds rate by 25-basis-points. "Even after accounting for productivity gains and temporary supply shocks, inflation appears to be trending toward the mid-2's, not all the way to 2%, and the risks are to the upside," Logan explained. Without any policy restraint, inflation will likely continue to trend above target until there's an unanticipated shock." "The FOMC cannot count on unanticipated shocks to achieve its goals and can always adjust policy if unanticipated shocks occur. But to manage against the risk that high inflation could become entrenched, I would rather tighten policy incrementally as we gather more data on the path of inflation and employment," he wrote.