Dallas Fed's Logan says Fed needs at least two more 25-bp rate hikes this year

Dallas Fed President Logan said it is clear the Federal Reserve needs at least two more 25-basis-point rate hikes this year. Logan said the Fed’s policy rate is at least 50 basis points below an appropriately restrictive level and added that, based on economic data, accommodative monetary policy is adding to inflation pressure. Logan also said the real federal funds rate stands at 78 basis points.