Fed's Logan: Fed should take time to assess more data, no urgency on rate cuts
Dallas Federal Reserve (Fed) Bank President Lorie Logan said on Friday that there is no urgency to cut interest rates, and while there has been "tremendous progress" on bringing down inflation, she wants further evidence on inflation to confirm the progress is durable.
Key quotes
“We have made tremendous progress on inflation; there is more work to do.”
"The risks that I'm seeing in the economy are becoming more balanced, but I do think we need to take time here to continue to look at the data.”
"I don't see any urgency to adjust rates.”
"We need to build confidence in inflation.”
“Supply chains have pretty much normalized.”
“Some industries still have supply chain issues, may take time to heal.”
“Highly focused on possible risks to progress on inflation.”
“Some industries still have supply chain issues, may take some time to heal.”
Market reaction
The US Dollar Index (DXY) is trading lower on the day at 104.01, as of writing.
Author
Lallalit Srijandorn
FXStreet
Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.
