Fed's Logan: The Fed doesn't need to cut rates this week; opposes another rate cut in December.

Federal Reserve Chairwoman Logan stated that the Fed should not cut interest rates this week, nor should it cut rates again in December. She noted that the labor market is "generally balanced" and does not require immediate support, while inflation appears likely to remain above the 2% target for an extended period. Logan stated, "The current economic outlook does not warrant a rate cut. I don't think a rate cut is necessary this week. Unless there is clear evidence that inflation will fall faster than expected, or that the labor market will cool faster, I would find it difficult to support another rate cut in December." Logan does not have a vote on the Fed's policy-making committee this year. She stated that data from the private sector, state unemployment claims, and the Fed's own network of business and community contacts all provide the central bank with a perspective on the economy, and the overall situation is "far from worrying." Subscribe to Fed Updates (Jinshi)