Martin Pelletier(@MPelletierCIO):My take-away from the FOMC. Something that may be missed and worth paying attention to. Beth Hammack has been consistently hawkish and also dissented for a hike at the July meeting. But this was Lisa Cook's first dissent since joining the Fed in 2022, and she dissented for tighter policy. That's meaningful in my opinion. You now have a Governor plus a regional Fed president saying, essentially, waiting carries greater inflation risk than hiking. And importantly, the hawkish concern appears broader than just the two dissenters. CNBC notes that Lorie Logan and Neel Kashkari had dissented for hikes in July, although they voted with the majority today. So 10

2026.10.28 18:23

My take-away from the FOMC. Something that may be missed and worth paying attention to. Beth Hammack has been consistently hawkish and also dissented for a hike at the July meeting. But this was Lisa Cook's first dissent since joining the Fed in 2022, and she dissented for tighter policy. That's meaningful in my opinion. You now have a Governor plus a regional Fed president saying, essentially, waiting carries greater inflation risk than hiking. And importantly, the hawkish concern appears broader than just the two dissenters. CNBC notes that Lorie Logan and Neel Kashkari had dissented for hikes in July, although they voted with the majority today. So 10–2 understates the hawkish constituency.