According to Jinshi, Dallas Fed President Logan said there is a case for raising interest rates at the June policy meeting, a reiteration of her view that further rate hikes are needed to cool the still strong economy. She said: "It is entirely appropriate to raise the interest rate range at the June meeting, which is consistent with the data we have seen in recent months and the Fed's dual mandate goals."
Logan noted that projections released at the June FOMC meeting showed more rate hikes were expected, and said it was "important for the FOMC to follow through on the signal we sent in June," adding that "two-thirds of FOMC participants expected at least two more rate hikes this year." "I remain very concerned about whether inflation can return to target in a sustainable and timely manner," Logan said. "The prospect of persistently above-target inflation and a stronger-than-expected job market calls for a more restrictive monetary policy."
