Federal Reserve official Michelle Logan has voiced her opposition to interest rate cuts this week or in December. In a recent statement, Logan indicated that the labor market appears ‘generally balanced’ and doesn’t require immediate support given current economic conditions, while inflation is expected to remain above the 2% target for an extended period. Logan emphasized that there’s no compelling reason to cut rates this week. ‘The current economic outlook does not necessitate a rate cut. I don’t see the need for a rate cut this week. Without clear evidence that inflation will decrease faster than expected or that the labor market will cool more quickly, I would find it difficult to support another rate cut in December,’ she stated. While Logan doesn’t hold voting rights on the Fed’s policy-making committee this year, her statement highlights that data from private sector sources, state unemployment claims, and insights from the Federal Reserve’s business and community networks offer a comprehensive picture of the economy, which she deems ‘far from concerning.’