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Federal Reserve's Logan: No Need to Cut Interest Rates This Week, Opposes Another Rate Cut in December
BlockBeats News, October 31st: Federal Reserve's Logan stated that the Fed should not cut interest rates this week and should not cut them again in December. She pointed out that the labor market is "broadly balanced" and does not need immediate support, while inflation appears likely to remain above the 2% target for some time. Logan stated: "The current economic outlook does not warrant a rate cut. I don't think it's necessary to cut rates this week. Unless there is clear evidence that inflation will fall faster than expected or that the labor market will cool more rapidly, I would find it hard to support another rate cut in December."
Logan does not have a voting role on the Federal Reserve's policymaking committee this year. She mentioned that data from the private sector, state unemployment claims, and the Fed's own business and community contacts have provided the central bank with insights into the economy, and the overall situation is "far from worrisome."
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