Logan Calls for Minimum Two Rate Hikes

Lori Logan, President of the Dallas Federal Reserve Bank, stated that the benchmark interest rate needs to be raised at least two more times to curb inflation. In a speech at Davidson College on the 30th, she emphasized that the Federal Open Market Committee (FOMC) should increase the benchmark rate by 0.25 percentage points at least two more times. The Fed had frozen the benchmark rate at 3.75% to 4.00% during the FOMC meeting on the 28th, which Logan also supported. However, she believes that to bring the inflation rate back to the Fed's target of 2%, a benchmark rate at least 0.5 percentage points higher than the current level is necessary. Logan explained that it would be appropriate to maintain the rate after the two additional hikes and monitor the economic and financial market conditions. She pointed out that the financial markets are responding sensitively to technology investment prospects and geopolitical changes, arguing that rates should be adjusted gradually. Additionally, Logan stressed that the Fed must clearly communicate to the market the ultimate level to which it plans to raise rates. Her remarks indicate that the need for further tightening to address inflation is still being raised within the Fed. Currently, Bitcoin is trading at $76,750.25, down 3.22%.

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