Fed’s Logan: Will need to see ‘several more months’ of better CPI numbers

• May CPI data was welcome news
• Great to see CPI data but will need to see several more months to have confidence inflation heading to 2%
• Will be watching data in coming months quite closely
• In a good position to be patient on policy
• Will be watching and seeing what’s happening in the economy

If you take this at face value, it’s tough to envision a cut in September, though the market is still pricing it at 60%. The sense is that ‘several’ could fall by the wayside quickly if employment and equity markets start to falter.

This article was written by Adam Button at www.forexlive.com.