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Interest Rates · November 10, 2026 · 2 min read

Logan favors at least two more quarter-point increases, with pace still conditional

By Econ Data Tools Editorial Team

Published November 10, 2026 • Updated November 10, 2026

The Dallas Fed president says policy should become modestly restrictive. Her November10 remarks are an individual policy view, not a new FOMC decision or a fixed winter schedule.

Dallas Fed President Lorie Logan said on November 10, 2026 that, given her current outlook, the Federal Open Market Committee needs at least two more 25-basis-point rate increases. Speaking at the Dallas and Kansas City Feds' joint energy conference in Houston, she said the committee might be able to move faster this winter than it had during the fall. She presented these as her own views, not necessarily those of her colleagues. Logan argued that inflation was trending meaningfully above the Fed's 2% goal while employment was near its maximum sustainable level. She estimated that the federal funds target range was at least 50 basis points below a level that would create modest restraint. That is her assessment of the appropriate policy stance, not an announcement that the committee has voted to raise rates by that amount. Her speech described strong consumer spending and business investment, including equipment used in data centers and the wider AI supply chain. She said employers were adding enough jobs to absorb trend labor-force growth, but also acknowledged a low-dynamism labor market that was difficult for job seekers. These observations form her economic argument; the remarks do not establish that all workers or businesses face the same conditions. On inflation, Logan cited several indicators rather than relying on one reading. She said core PCE inflation was 3.1% over the twelve months through September and described the October CPI release as higher than expected. She also discussed broader service-price pressures and warned against treating every price shock as temporary. Her concern about forthcoming PCE data is a forecast, not a published October PCE result. Logan said the committee had raised the target range by 25 basis points in September and skipped an increase in October. In her view, skipping one meeting did not change the policy destination. The exact pace of further increases would depend on near-term economic and financial conditions. Nothing in the speech fixes a particular increase at a named meeting or guarantees a half-point move at once. After two more increases, Logan said it would make sense to pause and examine developments before deciding whether further action was needed. She explicitly said her views would change if the outlook and risks changed. Readers should keep that conditional path separate from a committee commitment, a market-implied probability or a verified explanation of a particular move in Treasury yields.

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