Fed's Kashkari (2026 voter, hawkish dissenter) says he dissented because he preferred to raise funds rate by 0.25%

Series of supply shocks have been responsible in part for inflation. More recently data center investments have added new demand element to inflation. Increasingly believe monpol has role to play in addressing successive supply shocks that might lead to entrenched inflation. Monpol can look through individual supply shocks. Manage against risk of inflation becoming entrenched and would prefer to tighten policy incrementally. If inflation durably fades, a strategy of small steps would allow FOMC to slow or pause subsequent adjustments without unnecessary impact on real economy. If inflation remains elevated, a potential series of small policy moves would be better than waiting and concluding that bolder actions were necessary.