Hammack doesn’t want one rate hike, she wants to take back all three from last year — the “insurance cuts” as Powell once labeled them. She was never a big believer of the rate cuts last year, so this isn’t a shock at all. However, what he needs is to get four more Fed voters to join in for this rate hike. However, none said anything when oil prices were below $70, except Hammack said lower oil prices could be a problem for inflation because people wouldhave more to spend. Logan believes inflation is nowhere near staying close to the 2% target with where policy is at.