Fed's Logan (2026 voter) says policy rate needs to increase an additional 50bps or more and that without higher rates, inflation will not get to the 2% goal

Says: Policy is not sufficiently restrictive and needs to become modestly tighter. Economic growth is gaining momentum, while the labour market remains well balanced. At a minimum, several further rate hikes would reverse last autumn’s cuts. Price stability must be restored. It remains uncertain how high the policy rate must go to bring inflation back towards 2%. Higher yields may partly reflect increased term premiums, which could lessen the need for additional policy tightening. Rising long-term yields suggest investors expect interest rates to remain higher. Will continue monitoring bond-yield developments and evaluate their implications.