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Dallas Fed President Lorie Logan said the central bank needs at least two more rate hikes, calling for an additional 50 basis points of tightening because inflation remains unacceptably high. She argued the policy rate is still at least 50 basis points below even a modestly restrictive level, leaving room for further increases. The remarks signal that Federal Reserve officials are not ready to pause their tightening campaign despite recent rate moves. Traders will watch upcoming inflation and labor data, along with guidance from other Fed speakers, for confirmation that a June or July hike remains on the table.

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Lorie Logan, Federal Reserve