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Logan - "Much Too Soon" To Think About Cutting Rates

FED
  • Dallas Fed’s Logan (non-voter) maintains her position at the hawkish end of the FOMC spectrum and aides a short-lived sell-off fleetingly through post-payrolls lows for 2Y Treasuries. Full remarks here:
  • `MUCH TOO SOON' TO THINK ABOUT CUTTING RATES - bbg
  • *LOGAN: SHOULD BE PREPARED TO RESPOND IF INFLATION STOPS FALLING - bbg
  • *LOGAN: SEE `MEANINGFUL RISKS' TO CONTINUED INFLATION PROGRESS - bbg
  • "To return to the big picture, the inflation concerns I just described are upside risks, not my baseline outlook.
  • "Nevertheless, in light of these risks, I believe it’s much too soon to think about cutting interest rates. I will need to see more of the uncertainty resolved about which economic path we’re on."
  • "And, as always, the FOMC should remain prepared to respond appropriately if inflation stops falling. A flexible approach to monetary policy will provide time to continue assessing the data and outlook and make the best choices to sustainably achieve both stable prices and maximum employment."
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