Fed's Logan (2026 voter, hawk) calls for a modestly higher policy rate; says modestly higher interest rates would better the balance outlook and risks

It is time to finish the job of restoring price stability. One month of low CPI is not enough. Some policy restriction is needeed to help get it there. Inflation does not appear to be heading sustainably back to 2% on its own. Downside risks to employment have faded, inflation risks are mainly to the upside. AI may eventually generate productivity surge, but demand effects are here already. AI investment surge could trigger non-linear price increases. Labour market is well balanced, even strengthening a bit. Labour, consumption, and financial data indicate that monetary policy is not restraining the economy.