Dallas Fed President Lorie Logan said today that the Fed may need to pick up the pace of interest-rate increases after a report showed inflation was firmer than expected in October.
Logan, who is a voting member of the Fed's rate-setting committee this year, two weeks ago explained why she was OK with a slower pace of rate increases last month. She added the following sentence to remarks prepared for an energy conference today: "It may be possible to move more rapidly this winter than the FOMC has moved so far this fall."
The Fed raised rates in September and officials have signaled they expect another move in December. Logan repeated her view that the Fed needs at least two more quarter-point increases to make policy restrictive and secure the central bank's goals of stable prices and full employment. "It is important to achieve that balance promptly," she said.
