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Logan: Price Stability Essential For Strong Job Market

FED
  • Speaking for the second time since becoming Dallas Fed president on Aug 22, ’23 voter Lorie Logan repeats from Aug 31 that restoring price stability is the number one priority, whilst adding it’s essential for a strong job market.
  • She adds that shrinking the Fed’s balance sheet is proceeding in an orderly manner, but gives little sense of where she sits on the spectrum of FOMC views.
  • With little impact from the comments, terminal rate expectations sit off overnight highs, currently at 4.74%, whilst the Dec’23 does set new highs at 4.53%, further chipping away at cut expectations through 2023.
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  • Speaking for the second time since becoming Dallas Fed president on Aug 22, ’23 voter Lorie Logan repeats from Aug 31 that restoring price stability is the number one priority, whilst adding it’s essential for a strong job market.
  • She adds that shrinking the Fed’s balance sheet is proceeding in an orderly manner, but gives little sense of where she sits on the spectrum of FOMC views.
  • With little impact from the comments, terminal rate expectations sit off overnight highs, currently at 4.74%, whilst the Dec’23 does set new highs at 4.53%, further chipping away at cut expectations through 2023.