Fed's Logan: There is no need for the Fed to cut interest rates this week, opposed to another rate cut in December.

On October 31, Fed's Logan stated that the Fed should not lower interest rates this week, nor should it lower rates again in December. She pointed out that the labor market is “overall balanced” and does not require immediate support, while inflation seems likely to remain above the 2% target for an extended period. Logan remarked, “The current economic outlook does not necessitate a rate cut. I don't think a rate cut is needed this week. If there is no clear evidence that inflation will decrease faster than expected, or that the labor market will cool down more quickly, I would find it difficult to support a rate cut in December.” Logan does not have a vote on the Fed's policy-setting committee this year. She stated that data from the private sector, unemployment claims from various states, and the Fed's own business and community contact networks provide the Central Bank with a perspective on the economy, and the overall situation is “far from concerning.” Subscribe to Fed updates ( Jin10 )