Fed ‘Chorus’ Comes Out Against Latest Cut, Citing Inflation (2)

Three US central bank officials said they did not support a decision to cut interest rates this week, underscoring Federal Reserve Chair Jerome Powell’s warning Wednesday that another reduction in December is far from guaranteed.

Dallas Fed President Lorie Logan and her Cleveland counterpart, Beth Hammack, said Friday they would have preferred to hold rates steady. Both were speaking at a conference in Dallas, following a statement earlier in the day from Kansas City Fed President Jeff Schmid outlining the reasons for his dissent against Wednesday’s rate cut.

The remarks from Logan, Hammack and Schmid were the first ...