Fed's Logan (2026 voter, Hawk) says uncertainty in the economy continues, one of the biggest uncertainties is from the tech sector

Economy/Policy

• Supported January decision to hold amid a stabilising job market.
• Is not fully convinced they are on a path to 2% inflation.
• SCOTUS decision has led to more uncertainty.
• Upside inflation risks remain.
• Policy is well positioned to deal with risks to the mandate.
• Is worried about economic demand outstripping supply.
• Around 30k per month is the job market breakeven rate, at this point.
• Does not want to speculate about future policy decisions. 
• Thinks policy is well positioned.
• It is important to look at the issue of interest rate Fed targets for policy. 

Liquidity/Reserves

• Important for banks to make sure they're ready to access liquidity.
• Would like a central clearing for Fed Repo operations.
• It is challenging to define what ample reserves means.
• Demand for reserves will change over time.
• Very possible system could change to lower demand for reserves
• Payment tech innovations, regulations could change demand for liquidity.
• Does not have strong views about direction of liquidity regulations.
• Should look at regulations to see if liquidity is too tied down.
• Dollar swap lines have been very powerful in times of stress.