Federal Reserve Bank of Dallas President Lorie Logan, in her first public remarks since taking office last week, said that high inflation must be curbed.
(Bloomberg) — Federal Reserve Bank of Dallas President Lorie Logan, in her first public remarks since taking office last week, said that high inflation must be curbed.
“Our number one priority has to be to restore price stability,” she told a virtual town hall Wednesday hosted by her bank.
Logan has just returned from the Fed’s annual policy retreat in Jackson Hole, Wyoming, where she said central bankers were single-minded in their determination to curb price pressures.
“The clear priority was bringing inflation down because it’s having significant implications and hardships” for businesses and people around the world, she said.
Fed officials are aggressively raising interest rates to cool the hottest price pressures in nearly four decades and have vowed they will keep at it despite the likely pain this will cause the public. They raised rates by 75 basis points at their last two meetings and Chair Jerome Powell has said another move of that size could be on the table next month, depending on the data.
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