Alberto Musalem, President and CEO of the Federal Reserve Bank of St. Louis, speaks to the Economic Club of New York, in New York City, Feb. 20, 2025.

Brendan McDermid | Reuters

Two Federal Reserve presidents on Friday said interest rates will need to move higher to rein in inflation.

The St. Louis Fed's Alberto Musalem said another rate hike will need to happen soon. And Lorie Logan of the Dallas Fed predicted that the central bank will need to raise rates by quarter-point increments at least two more times.

The comments from the two officials offer the first morsels of insight into what leaders at the Fed see next after the central bank on Wednesday elected to leave rates unchanged for now .…