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A new Federal Reserve official who is the first to call for a rate hike since Waller took office has appeared; Logan supports raising interest rates to deal with persistently high inflation
BlockBeats message, July 17: The first Federal Reserve official to call for a rate hike since Waller took office has emerged. Earlier today, Fed official Logan said the Federal Reserve should raise interest rates to address persistently high inflation—an indication that she may be prepared to oppose the decision to keep rates unchanged later this month.
Logan said that the June inflation data released on Tuesday showed that price growth is slowing, but it was not enough for her to be confident that inflation has returned to the Federal Reserve’s 2% target path.