URGENT UPDATE: Federal Reserve official Michelle Logan has just revealed her stance on interest rates, advocating for them to remain unchanged. Speaking today, Logan, who is set to take over voting responsibilities next year, expressed her preference to keep rates steady at the upcoming December meeting.
Logan’s comments come as Kansas City Fed President Esther Schmid, who loses his voting power in 2024, backs her position. Schmid, known for his hawkish views, supports Logan’s sentiment, emphasizing the need for stability amid ongoing market fluctuations.
The market is currently pricing in a 68% chance of a rate cut in December, highlighting the tension between Fed officials and market expectations. Logan’s firm stance indicates a potential battle ahead as the Federal Reserve grapples with inflationary pressures and economic uncertainties.
In her statement, Logan underscored the importance of maintaining the current rates, saying, “I would have voted to leave rates unchanged this week and would prefer to do so in December.” This assertive position signals a commitment to cautious monetary policy at a time when many analysts are anticipating shifts.
As the situation develops, all eyes will be on the Federal Reserve’s next moves. With December just around the corner, investors and economists are eager to see how the Fed will navigate these complex challenges in the coming months.
Stay tuned for more updates as this story unfolds, and join the conversation on social media about the potential implications of Logan’s statements on the economy and financial markets.
