Fed’s Logan says is not yet convinced we are moving to 2% inflation | Forexlive

Federal Reserve Bank of Dallas President Lorie Logan participates in moderated question-and-answer session before the Money Marketeers of New York University.

• Has seen welcome progress on inflation but it’s still too high
• Not yet convinced we
  are moving to 2% inflation
• Economy continues to
  outperform, labor markets still tight
• Important to have
  restrictive financial conditions broadly speaking
• Fed has some time to
  watch economy, markets before deciding on monetary policy
• Fed has been unified in restoring price stability

Wow. Its dangerous in the water right now.

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Does anyone remember the previous head of the Dallas Fed, Robert Kaplan? Prior to being shuffled out of his job due to ill-advised trading decisions while being a policy player, Kaplan was the first of the Fed regional presidents to warn that inflation was not transitory. Over and over again he contradicted his colleagues and he was, of course, completely correct. If the FOMC had listened to him the Fed would have got started on its rate hike-against-inflation cycle much sooner. And would not have been behind so far when it did begin. It looks like Logan is following along in his footsteps with not being accepting of the idea that inflation is coming down quickly enough.

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• Source: https://www.forexlive.com/centralbank/feds-logan-says-is-not-yet-convinced-we-are-moving-to-2-inflation-20231019/