TechFlow, October 31: Federal Reserve's Logan stated that the Fed should not cut interest rates this week, nor again in December. She noted that the labor market is "broadly balanced," and there is no immediate need for support, while inflation appears likely to remain above the 2% target for an extended period. Logan said: "The current economic outlook does not warrant rate cuts. I don't think a rate cut this week is necessary. Without clear evidence that inflation will decline faster than expected or that the labor market will cool more quickly, it would be difficult for me to support another rate cut in December." Logan does not have a voting role on the Fed's policy-making committee this year. She added that data from the private sector, state unemployment insurance claims, and the Fed's own business and community contacts provide the central bank with insights into the economy, and the overall picture is "far from concerning." (Jinshi)
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