Fed official LOGAN said excess inflation is unacceptable and the Fed may need to tighten faster this winter than it has to date. He said the Fed will likely need at least two more 25bps hikes and that pausing to reassess after those two would be reasonable. He said the policy rate remains at least 50bps below a mildly restrictive level. Gradual policy adjustment can reduce the risk of economic activity weakening more than necessary. He added wartime energy disruptions and tariffs are not the onl

Fed official LOGAN said excess inflation is unacceptable and the Fed may need to tighten faster this winter than it has to date. He said the Fed will likely need at least two more 25bps hikes and that pausing to reassess after those two would be reasonable. He said the policy rate remains at least 50bps below a mildly restrictive level. Gradual policy adjustment can reduce the risk of economic activity weakening more than necessary. He added wartime energy disruptions and tariffs are not the only sources of price pressure and that broad-based upward price pressures could persist.