Fed Governor Logan said the Fed should raise rates to address elevated
inflation, signalling she may oppose keeping policy unchanged at this month's
meeting. She said Tuesday's June CPI showed price growth easing but not enough
to convince her inflation has returned to the Fed's 2% path. "June CPI does
suggest inflation could return to the target and the outlook is more
optimistic," Logan said, "but that path remains fragile. I currently believe a
modest rate increase would better balance the outlook and risks."
