Two of the three Federal Reserve officials who dissented at this week's policy meeting in favor of an interest rate hike said on Friday that action is needed now to bring inflation back down to the U.S. central bank's 2% target.
"Inflation has remained stubbornly above 2% for more than five years, and I am not confident it will return to our objective on its own," Cleveland Fed President Beth Hammack said in a statement released by her regional bank.
