Former Cleveland Fed President Loretta Mester and economist Adam Posen suggest the Federal Reserve's decision on a rate hike this week could be a closer call than market expectations. Posen notes that a hike would require multiple board members to reverse recent dovish stances and could draw political criticism. This comes as August CPI rose 0.3%, higher than the expected 0.2%, reinforcing market expectations for a 25 basis point hike. Fed Chairman Kevin Warsh previously made a case for raising rates at Jackson Hole, citing June and July inflation reports.