Fed's Logan advocated for further patience on policy

Lorie Logan, President of the Reserve Bank of Dallas reiterated that inflation remains too high, although tremendoous progress has been made. 

Key Takeaways

I am optimistic about generative ai's effect on productivity.

Understanding how much effect ai will have will take time to know, will have implications for monetary policy.

Inflation is still too high, but have made tremendous progress.

'Great to see' cpi data, will need to see 'several more months' to have confidence heading to 2%.

Will be watching data in coming months quite closely.

In a good position, to be patient, on policy.

Will be watching and seeing what's happening in the economy.

Neutral rate is probably higher now than it was before pandemic.

My guess is we don't go back to the low rates before the pandemic.

We are seeing the economy come into better balance, but still worried about upside risks to inflation.

Still see some lingering supply chain issues.