10:03 AM EDT, 10/31/2025 (MT Newswires) -- The Federal Open Market Committee should have maintained the target range for the federal funds this rate rather than voting to lower it given the current outlook and may not need to lower rates further in December, Dallas Federal Reserve Bank President Lorie Logan said Friday at a banking conference sponsored by the Dallas Fed.

Logan is not currently a voter on the FOMC but will vote in 2026.

"I would have preferred to hold interest rates steady at this week's FOMC meeting," Logan said, noting the labor market remains balanced and is only cooling slowly, while inflation remains elevated above the Fed's 2% target and is likely to remain there.

"This economic outlook didn't call for cutting rates," Logan said.

The FOMC has a duty to pursue both maximum employment and stable prices, Logan noted, with the need to balance both of those priorities and the offsetting costs of pursuing one or the other.

The FOMC's rate cut in September was to temper downside risks, Logan said, allowing the Fed to monitor employment conditions and respond if needed, but further preemptive action should not have been required.

"For those reasons, I did not see a need to cut rates this week," Logan said. "And I'd find it difficult to cut rates again in December unless there is clear evidence that inflation will fall faster than expected or that the labor market will cool more rapidly."