Lorie K. Logan has been making headlines since being named the 14th president and CEO of the Federal Reserve Bank of Dallas on August 22, 2022.
Logan, who oversees 1,200 employees working for the Dallas Fed and helps formulate U.S. monetary policy, has been a leading voice on economic conditions in the country. She represents the 11th Federal Reserve District, which includes Texas and parts of Louisiana and New Mexico, on the Federal Open Market Committee (FOMC).
On May 18, Logan weighed in on whether the Fed should pause an interest rate increase during a speech to bankers in San Antonio.
“After raising the target range for the federal funds rate at each of the last 10 FOMC meetings, we have made some progress,” the 50-year-old Logan said in prepared remarks to bankers in San Antonio. “The data in coming weeks could yet show that it is appropriate to skip a meeting. As of today, though, we aren’t there yet.”
Logan also made remarks at a recent Richmond, Virginia, conference on the changes in the speed of banking and transactions. She said the Fed should be prepared to make loans quickly to U.S. banks after what happened with the Silicon Valley Bank failure, which jolted the economy and threatened confidence in the banking system.
“The combination of the rapid spread of information and the speed of financial transactions … put a premium on banks’ effective management of liquidity risks,” Logan said, according to Reuters. “Our liquidity backstop should be available whenever [banks need it].”
Logan previously was manager of the System Open Market Account for the FOMC and an executive vice president of the Federal Reserve Bank of New York. She managed the Federal Reserve’s securities portfolio and executed the FOMC’s monetary policy.
“Lorie is a trusted colleague and dedicated public servant whose remarkable skill and experience with complex financial markets has informed our decisions and helped implement monetary policy to support the U.S. economy,” Fed Chair Jerome Powell said in a statement when she was hired for the Dallas job.
Logan was responsible for the Fed’s actions during the COVID-19 pandemic. She worked to support the flow of credit to households and businesses.
“Starting in March 2020, the Federal Reserve took a set of extraordinary measures in response to the extreme economic stresses and dislocations in the global financial system that were triggered by the pandemic,” Logan said in a March 2022 speech. “These actions — many taken in close coordination with the U.S. Treasury, and alongside a forceful fiscal response from the U.S. government — were successful in providing accommodation to the U.S. economy during a very vulnerable and uncertain period.”
A native of Versailles, Kentucky, Logan has a bachelor’s degree in political science from Davidson College and a master’s degree in public administration from Columbia University.
“Throughout my career, I have been driven by a commitment to public service,” Logan said in a statement. “I believe strongly in the Federal Reserve’s mission, and in the critical role it plays in promoting a healthy economy that truly works for everyone. I am excited about … Texas and becoming involved in the community.”