Odaily News Dallas Fed President Logan said on Monday that with a stable labor market, inflation slightly above target and an uncertain outlook, the Fed is closely watching a range of data to determine what response measures may be needed and when. "Monetary policy is in a good position to allow us to wait and watch the data, knowing that if the risks on either side change materially, we have the ability to act," Logan said at a banking conference. "Our job is to ensure that a one-time increase in the price level does not become a persistent inflation problem." (Jinshi)