Federal Reserve's Logan: No Need to Cut Interest Rates This Week, Opposes Another Rate Cut in December

October 31st: Federal Reserve's Logan expressed that the Fed should refrain from cutting interest rates this week and also not cut them again in December. She indicated that the labor market is "broadly in equilibrium" and does not require immediate assistance. Meanwhile, inflation seems likely to stay above the 2% target for a certain period. Logan stated: "The current economic outlook does not justify a rate cut. I do not think it is necessary to cut rates this week. Unless there is definite evidence that inflation will decline more rapidly than anticipated or that the labor market will cool down more quickly, I would be reluctant to support another rate cut in December." Logan does not hold a voting position on the Federal Reserve's policymaking committee this year. She mentioned that data from the private sector, state unemployment claims, and the Fed's own business and community interactions have offered the central bank insights into the economy, and the overall situation is "far from being a cause for concern." Subscribe to Federal Reserve Updates (Xinhua Finance)