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flag Fed dissents against maintaining rate cut bias amid rising inflation.

flag Federal Reserve Bank of Cleveland President Beth Hammack dissented Friday against the Fed’s decision to maintain an easing bias, arguing it is no longer appropriate given rising inflation pressures and economic uncertainty. flag Hammack cited broad-based price increases and higher oil prices as reasons to oppose the language suggesting potential future rate cuts. flag Her dissent was part of an unusually divided Federal Open Market Committee vote, with four officials opposing the consensus and one official, Governor Stephen Miran, advocating for a rate cut. flag The Fed held its benchmark interest rate target range steady at 3.5% to 3.75%.

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