Latest remarks from a Fed official — Logan, a 2026 FOMC voter Logan, the Dallas Fed President and a 2026 FOMC voter, believes that the 25 basis point rate hike in September is just the first step. She currently estimates that the federal funds rate target range needs to be raised by at least another 50 basis points to bring monetary policy to a 'moderately restrictive' level. Her reasoning is that while inflation is cooling, it seems to be heading toward the mid-2% range rather than returning to the Fed's 2% target. At the same time, economic growth is strengthening, the unemployment rate is at 4.1%, the labor market remains roughly balanced, and consumer and manufacturing activity suggest that current policies haven’t significantly curbed demand. If this combination persists, inflation could remain above target. Logan also mentioned the rise in long-term Treasury yields, which may partly stem from higher term premiums. If this alone has already tightened financial conditions and slowed the economy, the Fed might need fewer additional rate hikes. The final rate will still depend on employment, prices, growth, consumption, and overall financial conditions. One @Gate, trade more markets.