Dallas Fed President Logan: The economy unexpectedly strong, further rate hikes needed.

Odaily News - Dallas Fed President Logan stated that there are reasons to raise interest rates at the policy meeting in June. This statement reiterates her view that further rate hikes are needed to cool down the still strong economy. She said, "It is entirely appropriate to raise the interest rate range at the June meeting, which is consistent with the data we have seen in recent months and the dual mandate of the Fed."

Logan pointed out that the forecasts released at the June FOMC meeting indicate that there will be more rate hikes expected. She also stated, "It is important for the FOMC to implement the signal we sent in June," and added, "Two-thirds of FOMC meeting participants expect at least two more rate hikes this year." Logan said, "I am still very concerned about whether inflation will return to the target level in a sustainable and timely manner. The prospect of inflation remaining above the target and the stronger-than-expected labor market call for a more restrictive monetary policy." (Jin10)