Federal Reserve official Logan said the Fed should raise interest rates to deal with still-elevated inflation, making her the first Fed official to openly call for a hike since Warsh took office. Her remarks, reported on July 17, suggest she may be prepared to oppose a decision later this month to leave rates unchanged. Logan said June inflation data released on Tuesday showed price increases are slowing, but not enough to convince her that inflation is moving back onto a path consistent with the Fed’s 2% target. The comments place inflation and the upcoming rate decision back at the center of policy discussion.
Federal Reserve official Logan said the U.S. central bank should raise interest rates to address elevated inflation, according to BlockBeats on July 17. She is the first Fed official to call for a rate hike since Warsh took office.
Her remarks suggest she may be ready later this month to oppose a decision to keep rates unchanged. Logan said June inflation data released on Tuesday showed price growth is easing, but not enough to convince her that inflation is back on a path toward the Federal Reserve’s 2% target.
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