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Fed’s Logan Says More Rate Hikes Needed to Slow Hot Inflation
Federal Reserve Bank of Dallas President Lorie Logan said more interest-rate increases will likely be needed to spur meaningful disinflation and bring price-growth rates back to the central bank’s target. “I remain very concerned about whether inflation will return to target in a sustainable and timely way,” Logan said Thursday in remarks prepared for delivery at the Central Bank Research Association’s annual meeting in New York. “I think more-restrictive monetary policy will be needed to achieve the Federal Open Market Committee’s goals of stable prices and maximum employment.” Policymakers paused ... (full story)