Fed’s Logan: Would find it difficult to cut again in December

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Dallas Bank Federal Reserve (Fed) President Lorie Logan delivered a speech at “The SNB and its Watchers 2025” Conference at the Karl Brunner Institute in Zurich on Friday.

Dallas Bank Federal Reserve (Fed) President Lorie Logan delivered a speech at “The SNB and its Watchers 2025” Conference at the Karl Brunner Institute in Zurich on Friday. Logan claimed that elevated asset valuations and compressed credit spreads mean the policy rate must offset financial condition tailwinds.

Key quotes

Elevated asset valuations, compressed credit spreads mean policy rate must offset financial condition tailwinds.

Would find it difficult to cut again in December.

Inflation is too high and labor market is roughly balanced.

October rate cut was not warranted.

Holding rates would allow Fed to assess restrictions.

The Fed needs to offset tailwinds from financial conditions.

The Fed should hold rates steady for a time to assess degree of restriction.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.13%	-0.05%	-0.45%	-0.01%	0.07%	-0.14%	0.17%
EUR	-0.13%		-0.19%	-0.58%	-0.13%	-0.07%	-0.27%	0.04%
GBP	0.05%	0.19%		-0.41%	0.05%	0.12%	-0.09%	0.23%
JPY	0.45%	0.58%	0.41%		0.47%	0.54%	0.31%	0.64%
CAD	0.00%	0.13%	-0.05%	-0.47%		0.06%	-0.16%	0.18%
AUD	-0.07%	0.07%	-0.12%	-0.54%	-0.06%		-0.21%	0.11%
NZD	0.14%	0.27%	0.09%	-0.31%	0.16%	0.21%		0.32%
CHF	-0.17%	-0.04%	-0.23%	-0.64%	-0.18%	-0.11%	-0.32%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).