Federal Reserve's Logan Advises Against Rate Cuts Amid Economic Stability

According to Odaily, Federal Reserve official Logan has stated that the Fed should not cut interest rates this week or in December. She highlighted that the labor market is 'generally balanced' and does not require immediate support, while inflation is likely to remain above the 2% target for an extended period. Logan remarked, 'The current economic outlook does not necessitate a rate cut. I do not see the need for a rate cut this week. Without clear evidence that inflation will decrease faster than expected or that the labor market will cool more quickly, I would find it difficult to support another rate cut in December.' Although Logan does not have voting rights on the Fed's policy-making committee this year, she emphasized that data from the private sector, state unemployment claims, and the Fed's own business and community networks provide the central bank with a comprehensive view of the economy, which she described as 'far from concerning.'