Fed's Logan: It's hard to support a December rate cut

Odaily Planet Daily reports that Federal Reserve Bank of New York Governor Jennifer Logan reiterated on Friday that she would oppose a December rate cut by the Fed, following her opposition to a rate cut in October, citing concerns that inflation is too high and trending upwards, making it too long to reach the Fed's 2% target. "When I look ahead to the December meeting, I think it's difficult to support another rate cut unless we have compelling evidence that inflation is indeed falling faster than I expect, or we see the labor market not just gradually cooling," Logan said.