Dallas Fed's Logan Advocates for Rate Hikes to Combat Inflation and Strengthen Economy

Dallas Fed President Lorie Logan expressed her desire to raise rates in June and expects the central bank to raise rates twice more this year. While the Fed voted to hold rates steady last month, Logan joins a group of officials who preferred a rate increase. Factors such as a strong labor market, resilient economic growth, and elevated inflation were cited as reasons for additional policy tightening. The Fed's updated economic forecasts suggest two more rate hikes this year. Logan emphasized the importance of following through on these projections, expressing concern about inflation and the need for more restrictive monetary policy.