Federal Reserve’s Logan: Rate hikes should be made to combat inflation

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PANews July 17, citing Jintou, reported that Federal Reserve member Logan said the Fed 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 the June inflation data released on Tuesday showed prices rising at a slowing pace, but not enough for her to be confident that inflation has returned to the path toward the Fed’s 2% target. “The June CPI data does indeed suggest inflation may be back at the target level, and the outlook is more optimistic,” Logan said. “But this path is still quite fragile. At this time, I believe that a modest increase in interest rates would help better balance the outlook with risks.”
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