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REUTERS/Ann Saphir/File Photo Acquire Licensing RightsNov 7 (Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Tuesday said she supported leaving the Fed's policy rate on hold last week to assess if financial conditions are sufficiently tight to bring down inflation, while pointing to recent signs the fight was not yet won. "We're going to continue to need to see tight financial conditions in order to bring inflation to 2% in a timely and sustainable way," Logan said. "I'm going to be looking at the data and I'm going to be looking at financial conditions as we get closer to the following meeting." That view was one main reason the Fed opted to keep the policy rate in its current 5.25%-5.50% range last week. "We have seen some retracement in that 10-year yield and financial conditions, and so I'll be watching to see whether that continues and what that means for the implications of policy," Logan said on Tuesday.

Persons: Lorie Logan, Ann Saphir, Logan, Franklin Paul, Andrea Ricci Organizations: Reserve Bank, Dallas, National Association for Business Economics, REUTERS, Dallas Federal Reserve Bank, Fed, Thomson Locations: Dallas , Texas, U.S

☆ Fed's Logan: Fed has "some time" to see data before deciding next rate move
▼ + stars: | 2023-10-19 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

Federal Reserve Bank of Dallas President Lorie Logan walks to the opening dinner of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsNEW YORK, Oct 19 (Reuters) - Federal Reserve Bank of Dallas President Lorie Logan said on Thursday recent data and market shifts give the central bank space to deliberate on its next monetary policy move. "We have some time" before having to make the call whether to raise rates again or hold them steady, Logan said at a gathering of the Money Marketeers of New York University. Logan noted that a desirable tightening in financial conditions gives officials some space to watch incoming data, as she noted progress in lowering inflation while still being unsure price pressures are ebbing to the 2% target. Reporting by Michael S. Derby; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Lorie Logan, Ann Saphir, Logan, Michael S, Sandra Maler Organizations: Reserve Bank, Dallas, Kansas City, REUTERS, Federal Reserve Bank, New York University, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

☆ Morning Bid: Oil jumps as Middle East strife shakes markets
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +3 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. With one war already raging in Europe, a new conflict in the Middle East was bound to rattle the markets. If the U.S. tightens enforcement of sanctions, CBA analysts estimate around 0.5-1.0% of world oil supplies could be affected, which would push Brent atop $100 a barrel. A sustained rise in oil prices would be an unwelcome blow to inflation but also a tax on consumers, so the implication for interest rates isn't straightforward.

Persons: Agustin Marcarian, Wayne Cole, Brent, Luis de Guindos, Pablo Hernández, Cos, Andrea Enria, Fed's Logan, Edmund Klamann Organizations: REUTERS, Oil, Brent, Treasury, Nikkei, Hamas, Street Journal, United Nations, JPMorgan, Citi, Wells, Bank of Spain, Jefferson, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Wayne, Israel, Europe, U.S, Asia, Tokyo, Iran, Tehran, Washington, Strait, Hormuz, Wells Fargo, Germany, Barr

☆ Fed's Logan: can skip Sept rate hike, but 'there is work left to do'
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Bank of Dallas President Lorie Logan walks to the opening dinner of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. My base case, though, is that there is work left to do," she said in remarks prepared for delivery to the Dallas Business Club at Southern Methodist University. "After the unacceptably rapid price increases of the past several years, I’m not yet convinced that we’ve extinguished excess inflation." "Another skip could be appropriate when we meet later this month," Logan said, referring to the Fed's upcoming Sept. 19-20 meeting. "In coming months, further evaluation of the data and outlook could confirm that we need to do more to extinguish inflation."

Persons: Lorie Logan, Ann Saphir, I’m, Logan, Diane Craft Organizations: Reserve Bank, Dallas, Kansas City, REUTERS, Dallas Federal Reserve Bank, U.S, Dallas Business Club, Southern Methodist University, Fed, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

☆ Fed's Logan says more rate hikes needed amid unexpected economic strength
▼ + stars: | 2023-07-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Logan is a voting member of the rate-setting Federal Open Market Committee this year. Officials were still worried about inflation and flagged a still strong job market, while a minority of policymakers expressed interest in raising rates at the June meeting. Logan also said that she doesn’t see anything tied to the Fed’s balance sheet drawdown affecting the Fed’s rate choices right now, and said the Treasury’s work to rebuild its cash account is unlikely to hit bank reserves, with the cash instead drawn from the Fed's reverse repo facility. Logan said after her formal remarks that she was surprised markets expect a sooner end to the balance sheet drawdown than she bets is likely. Reporting by Michael S. Derby Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Lorie Logan, ’, ” Logan, ”, Logan, Jerome Powell, John Williams, it’s, “, Michael S, Nick Zieminski Organizations: YORK, Federal Reserve Bank, Dallas, Columbia University, , New York Fed, Fed, Thomson Locations: ,

☆ Markets next week may keep thinking about what could go right
▼ + stars: | 2023-05-19 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.

☆ Fed's hawks make a pitch against a rate-hike pause
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

On Thursday, rate-futures markets reflected a one-in-three chance of a June rate hike, compared with a one-in-10-chance seen a week ago. The Fed has lifted borrowing costs at each meeting since March 2022, bringing them from near zero to a 5.00-5.25% range as of early this month. Consumer price inflation, for instance, edged down to a 4.9% annual pace in April but is still far above the Fed's 2% goal. However, his embrace of the idea that there is still a lot of policy tightening in the pipeline suggests he could be comfortable with a pause. Dallas Fed's Logan had the opposite presumption.

☆ Fed's Logan: data does not yet show June pause is appropriate
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: 1 min

May 18 (Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Thursday said she's concerned that "much too high" inflation is not cooling fast enough yet to allow the Fed to pause its interest-rate hike campaign in June. "The data in coming weeks could yet show that it is appropriate to skip a meeting," Logan said in remarks prepared for delivery to the Texas Bankers Association in San Antonio, referring to the Fed's twice-quarterly policy-setting meetings, the next of which takes place June 13-14. "As of today, though, we aren’t there yet." Reporting by Ann SaphirOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. financial system vulnerable to bond market stress, Fed's Logan says
▼ + stars: | 2023-03-03 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Logan, who holds a vote in this year's Federal Open Market Committee monetary policy meetings, did not comment on the outlook for monetary policy and the economy in her prepared remarks. She spoke amid ongoing concern about how financial markets, most notably the sector that trades U.S. government debt, will respond to the next chapter of stress. That said, a semi-annual monetary policy report released by the Fed on Friday sounded a somewhat sanguine note on market risk at the current moment. Trading in the Treasury market has been "orderly," although that particular market was more challenged on the liquidity front compared to others, it said. "The public and private sectors must work together to enhance market resilience so that these episodes will be far less frequent going forward," Logan said.

☆ Fed's Logan says financial system vulnerable to bond market stress
▼ + stars: | 2023-03-03 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Logan, who holds a vote on this year’s Federal Open Market Committee monetary policy meetings, did not comment on the outlook for monetary policy and the economy in her prepared remarks. Before joining the Dallas Fed last year as its leader, Logan was a key official at the New York Fed designing and implementing the monetary policy directives of the FOMC. Those increases coupled with the Fed’s ongoing efforts to shed bonds to reduce its market footprint, have raised questions about what authorities might do to support markets in the future. A paper this week from the New York Fed said the official sector needs to move toward finding a more formalized approach to providing support. Logan said authorities are continuing to work on methods to formalize how they might intervene and to shore up underlying market strength.

This is despite another week of even higher U.S. bond yields and Fed interest rate expectations, and deteriorating relations between the U.S. and China. Perhaps because it had fallen nearly 10% over the preceding four weeks, it was primed for a technical or short-covering rebound. Perhaps stocks are making a bet that policymakers won't raise rates as aggressively as rates markets are implying. Maybe it's a play that rising nominal rates are merely matching inflation and inflation expectations, so policy isn't so tight in real terms and growth isn't suffering. Investors will also be watching the dollar, which rose across the board on Thursday, spurred on by higher U.S. yields.

☆ Fed's Logan supports slower rate hike pace, possibly higher stopping point
▼ + stars: | 2023-01-18 | by ( Ann Saphir | ) www.reuters.com time to read: +2 min

"If you’re on a road trip and you encounter foggy weather or a dangerous highway, it’s a good idea to slow down. "That’s why I supported the (Fed's) decision last month to reduce the pace of rate increases. And the same considerations suggest slowing the pace further at the upcoming meeting." With so much unknown about 2023, she said, the Fed should not "lock in" on a peak policy rate but instead stay flexible by increasing rates in smaller increments. Inflation by the Fed's preferred gauge, the personal consumption expenditures price index, has averaged 5.8% at an annual rate for the past two years.

The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. As analysts at CrossBorder Capital note, economic momentum in China is slowing again, while investors' risk appetite remains near 2020 pandemic lows. chartThe IMF suggests there is scope for a further "gradual, safe recalibration" of Beijing's zero-COVID policy. U.S. Treasury Secretary Janet Yellen said China's zero-COVID policy was a threat to healing global supply chain difficulties, but said she would not give Beijing advice on managing the pandemic. Another whoosh in global markets - Wall Street's three main indices soared 2%-4% on Powell's comments on Wednesday - won't do any harm either.

☆ Fed's Logan: Inflation data a 'welcome relief,' still long way to go
▼ + stars: | 2022-11-10 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +3 min

The closely watched inflation data, released earlier on Thursday, provides support for the central bank to dial back its hefty rate hikes, and Logan also backed such an approach. The Fed's rate-setting committee "should adjust other elements of policy to deliver appropriately tight conditions even as the pace slows. We must remain firmly committed to our 2% inflation goal," Logan said. "So far, I believe we are seeing a normal financial market response to tighter monetary policy," Logan noted. Nevertheless, it is important to remain attentive to any unexpected responses to further policy tightening, Logan said.

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