Dallas Fed President: Economic Data Not Yet Justifying Rate Hike Pause

Dallas Federal Reserve President Lorie Logan said that inflation remains too high and is not cooling quickly enough to justify pausing interest rate increases at the central bank's June meeting. She emphasized that the decision will ultimately hinge on inflation and employment data released shortly before the June 13-14 meeting. Although inflation has eased from a peak of 9.1%, it remains about more than double the pre-pandemic average and well above the Fed's 2% target rate. The hawkish comments from Logan and Cleveland Fed President Loretta Mester have raised the specter of an 11th rate hike in June.