Dallas Federal Reserve Bank President Lorie Logan said on Wednesday that the United States central bank will "most likely" need more interest rate cuts to bring the economy back to solid ground.

Speaking at the ninth joint energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City, Logan emphasized that it is difficult to predict how many additional rate cuts will be needed and when they should happen. "I am keeping an open mind, scrutinizing economic data and financial conditions, and listening carefully to business and community contacts as I assess what next steps may be appropriate for monetary policy," she added.

Furthermore, the central banker noted that the Fed made great progress in lowering inflation, but she warned that upside inflation risks still linger.