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Federal Opponents Say Delay Hinders Inflation Control
Some Federal Reserve members expressed opposition to the decision to hold interest rates steady, emphasizing that delaying the rate hike could make it more difficult to control inflation, which is approaching 4%, twice the target of 2%. Most members, led by the new chair Kevin Warch, preferred to wait and gather more evidence of inflation slowing before making a decision, despite inflation remaining above the target for over five years. This marks the highest number of dissenting votes in the Federal Reserve in a decade, with some experts believing that raising interest rates is necessary to curb inflation, despite its negative impact on the labor market and real estate.
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