10:18 AM EST, 11/13/2024 (MT Newswires) -- The Federal Open Market Committee will need to continue reducing the target range for the federal funds rate, but how much and how soon are still uncertain, Dallas Federal Reserve Bank President Lorie Logan said Wednesday at a joint conference hosted by the Dallas and Kansas City Fed banks.

"Economic activity is strong, inflation is coming down and the economy is approaching a point that can sustainably deliver both maximum employment and stable prices," Logan said. "I anticipate the FOMC will most likely need more rate cuts to finish the journey. But it's difficult to be sure how many cuts may be needed and how soon they may need to happen."

Logan said that she will continue to gather data and information with an open mind.

While not commenting on the actions the FOMC should take at its next meeting in December, Logan suggested a cautious approach to avoid an over-loosening of policy.

"If we cut too far, past neutral, inflation could reaccelerate and the FOMC could need to reverse direction," Logan said. "In these uncertain but potentially very shallow waters, I believe it's best to proceed with caution."

Logan next votes on the FOMC in 2026.