Dallas Federal Reserve President Lorie Logan indicated that modest rate hikes are needed in the near term, citing a strong labor market and upside risks to inflation pressures. In a statement, Logan noted that monetary policy is not restraining the economy, and without tighter policy, inflation is likely to remain above target. She suggested that implementing modest rate hikes in the near term could reduce the need for more aggressive action later. At the Federal Open Market Committee meeting on the 29th, Logan advocated for a 25-basis-point rate increase and voted against holding rates steady.