Federal Reserve Logan: The Federal Reserve doesn't need to cut interest rates this week, opposes another rate cut in December

The Federal Reserve should not cut interest rates this week and again in December, Ms Logan said. She noted that the labour market was "generally balanced" and did not require immediate support, while inflation looked likely to remain above the 2 per cent target for an extended period. "The current economic outlook does not call for a rate cut. I do not see a need for a rate cut this week. I would have a hard time supporting another rate cut in December without clear evidence that inflation will fall faster than expected, or that the labour market will cool more quickly," Ms Logan said. Ms Logan does not have a vote on the Fed's policy-making committee this year. She said data from the private sector, state jobless claims and the Fed's own network of business and community contacts all provided the central bank with a view of the economy and the overall picture was "far from alarming".