Fed’s Logan says higher rates are needed to tackle inflation

Federal Reserve official Logan said on July 17 that the U.S. central bank should raise interest rates to deal with still-elevated inflation, a stance that suggests she may be ready to oppose a decision later this month to leave rates unchanged. Logan said June inflation data released on Tuesday showed price growth easing, but not enough to convince her that inflation is back on a path consistent with the Fed’s 2% target. In her remarks, Logan said the June Consumer Price Index report pointed to a more encouraging outlook and showed inflation could return to target, but she described that path as fragile. She added that, in her view, a moderate rate increase would help better balance the outlook and the risks. The report was cited by BlockBeats, referencing Jin10.