Federal Reserve’s Logan: Interest rates should be raised to tackle inflation

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Golden Finance reported that on July 17, Federal Reserve member Logan said the Fed should raise interest rates to address persistently high inflation—comments that suggest she may be preparing to oppose a decision to keep rates unchanged later this month. Logan said that the June inflation data released on Tuesday showed that price increases are slowing, but not enough to make her confident that inflation has returned to the Federal Reserve’s 2% target path. “The June CPI data indeed suggests inflation could be back to the target level and the outlook is more optimistic,” Logan said. “But this path is still very fragile. At this time, I believe a modest increase in interest rates would help better balance the outlook and risks.”
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