Fed Chair Logan: Rates Near Neutral, May Not Need to Cut

Federal Reserve official Lori Logan said current policy is near neutral and further rate cuts may not be needed if inflation falls and the labor market remains stable. She is more worried about persistently high inflation but cautiously optimistic that inflation will move toward the 2% target this year. Logan said that if the labor market weakens, cutting spending could be appropriate, but she noted that economic activity has rebounded and downside risks to the labor market have receded. She added that inflation has been above target for nearly five consecutive years, and the progress made so far is only preliminary.

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