Fed's Logan Opposes Rate Cuts This Week and in December Amid Balanced Labor Market

Federal Reserve Bank of Dallas President Lorie Logan said on Oct. 31 the Fed should not reduce rates this week or in December, Jin10 reports. Logan noted the labor market remains generally balanced and requires no immediate support, while inflation appears likely to persist above the 2% target for an extended period. She stated she would find it difficult to support a December reduction without clear evidence of faster-than-expected inflation decline or labor market cooling. Logan, who does not hold a voting position on the Federal Open Market Committee this year, cited data from private sector sources, state unemployment claims, and the Fed's business and community networks as indicators showing the overall situation is far from concerning.