{"id":72496,"date":"2026-10-01T20:08:18","date_gmt":"2026-10-02T00:08:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/feds-logan-calls-for-sharp-hikes-as-global-inflation-remains-sticky\/72496\/"},"modified":"2026-10-01T20:08:18","modified_gmt":"2026-10-02T00:08:18","slug":"feds-logan-calls-for-sharp-hikes-as-global-inflation-remains-sticky","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/feds-logan-calls-for-sharp-hikes-as-global-inflation-remains-sticky\/72496\/","title":{"rendered":"Fed\u2019s Logan Calls for Sharp Hikes as Global Inflation Remains Sticky"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Dallas Fed President Lorie Logan<\/strong> signaled a need for an additional <strong>50 basis points<\/strong> of rate hikes, warning that current policy is not yet restrictive enough to return inflation to the <strong>2% target<\/strong>.<\/li>\n<li><strong>Tokyo\u2019s core CPI<\/strong> surged to <strong>2.7%<\/strong> in September, significantly exceeding the <strong>2.5% estimate<\/strong> and fueling expectations for further <strong>Bank of Japan<\/strong> tightening.<\/li>\n<li><strong>Copper prices<\/strong> fell <strong>1.2% to $14,243.50 a ton<\/strong> as a stronger US dollar and <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> above <strong>$100<\/strong> weighed on industrial metals, despite looming strike risks in <strong>Chile<\/strong>.<\/li>\n<li><strong>South Korea\u2019s inflation<\/strong> eased to <strong>2.9%<\/strong> in September, matching forecasts, but core inflation remains sticky as energy costs continue to pressure the economy.<\/li>\n<li><strong>Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>)<\/strong> reported a mechanical issue and unplanned flaring at its <strong>El Segundo refinery<\/strong>, though the company stated regional petroleum supplies remain unaffected.<\/li>\n<\/ul>\n<h2>Fed Official Signals &quot;Offside&quot; Policy Stance<\/h2>\n<p>Dallas Federal Reserve President <strong>Lorie Logan<\/strong> delivered a hawkish message on Thursday, stating that the <strong>Federal Open Market Committee (FOMC)<\/strong> needs to raise interest rates by at least another <strong>50 basis points<\/strong>. Logan argued that the current policy stance is &quot;offside,&quot; as economic growth remains strong and the labor market is &quot;well balanced,&quot; which prevents inflation from falling sustainably to the <strong>2%<\/strong> goal.<\/p>\n<p>While Logan noted that the recent <strong>25-basis-point<\/strong> hike in September was a positive step, she emphasized that the policy rate must become &quot;modestly restrictive.&quot; She also acknowledged that surging <strong>long-term bond yields<\/strong> could reduce the immediate need for tightening by acting as a natural brake on the economy, a factor she intends to monitor closely in the coming months.<\/p>\n<h2>Japanese Inflation Beats Estimates<\/h2>\n<p>In Asia, <strong>Tokyo&#39;s Consumer Price Index (CPI)<\/strong> data for September surprised to the upside, with the headline rate climbing to <strong>2.7%<\/strong> year-on-year. This was a sharp increase from the <strong>1.9%<\/strong> recorded in August and surpassed the consensus estimate of <strong>2.5%<\/strong>. The &quot;core-core&quot; index, which excludes both fresh food and energy, rose to <strong>3.0%<\/strong>, suggesting that inflationary pressures are broadening across the Japanese economy.<\/p>\n<p>The data has intensified speculation that the <strong>Bank of Japan (BoJ)<\/strong> may be forced to accelerate its normalization path. Following the release, <strong>10-year JGB futures<\/strong> rose <strong>0.29 points<\/strong>, while <strong>Nikkei futures<\/strong> fell <strong>0.9%<\/strong> in early trade as investors braced for the possibility of higher domestic borrowing costs.<\/p>\n<h2>Commodity Markets and Supply Disruptions<\/h2>\n<p><strong>Copper<\/strong> prices faced downward pressure, sliding <strong>1.2%<\/strong> to trade near <strong>$14,243.50<\/strong> a ton. The decline was attributed to a strengthening <strong>US dollar<\/strong> and <strong>crude oil<\/strong> prices holding above <strong>$100<\/strong>, which typically raises production costs while dampening demand for industrial metals. However, the market remains in <em>backwardation<\/em>, signaling that near-term supply remains exceptionally tight.<\/p>\n<p>Supply risks are centered in <strong>Chile<\/strong>, the world\u2019s top producer, where workers at <strong>Antofagasta (<a href=\"\/stock\/ANTO\">ANTO<\/a>)<\/strong>\u2019s Centinela mine have voted to strike. Additionally, operations at <strong>BHP Group (<a href=\"\/stock\/BHP\">BHP<\/a>)<\/strong>\u2019s Escondida, the world\u2019s largest copper mine, have faced recent interruptions. These disruptions, combined with uncertainty over a potential mine restart in <strong>Panama<\/strong>, are providing a floor for prices despite the broader macroeconomic headwinds.<\/p>\n<h2>Regional Economic Updates<\/h2>\n<p>South Korea reported that its <strong>September CPI<\/strong> rose <strong>2.9%<\/strong> year-on-year, a slight cooling from the <strong>3.1%<\/strong> seen in August. While the headline figure was in line with expectations, <strong>core CPI<\/strong> (excluding food and energy) remained elevated at <strong>2.8%<\/strong>. The <strong>Bank of Korea<\/strong> continues to face a delicate balancing act as it navigates persistent service-sector inflation and volatile global energy prices.<\/p>\n<p>In the energy sector, <strong>Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>)<\/strong> addressed concerns regarding its <strong>El Segundo refinery<\/strong> in California. The company confirmed that a mechanical issue led to unplanned flaring but reassured markets that there would be no disruption to petroleum product supplies for regional customers. The facility is a critical hub for fuel production on the US West Coast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Dallas Fed President Lorie Logan signaled a need for an additional 50 basis points of rate hikes, warning 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