Fed Logan: We haven’t yet made the progress we need to make

Dallas Fed Lorie Logan said in speech, “after raising the target range for the federal funds rate at each of the last 10 FOMC meetings, we have made some progress.”

Logan noted, “The data in coming weeks could yet show that it is appropriate to skip a meeting. As of today, though, we aren’t there yet.”

Addressing the inflation target, Logan emphasized the challenges that remain. “We haven’t yet made the progress we need to make. And it’s a long way from here to 2% inflation,” she remarked.