Logan: inclined to raise interest rates by 25 basis points

Federal Reserve's Logan expressed a preference for raising interest rates by 25 basis points. Taking moderate action in the near future will reduce the likelihood of requiring stronger action in the future. The FOMC cannot rely on unexpected shocks to achieve its goals. Monetary policy has not restrained the economy, and inflation has not progressed towards the target of 2%. The inflation risk is trending upwards, and the stable job market is slightly strengthening.