Dallas Fed President Lorie Logan says the Federal Reserve should raise its benchmark interest rate by at least another half percentage point to bring inflation back toward the central bank’s 2% target.

Logan said Thursday that the Fed’s quarter-point rate increase last month was an important first step, but argued that additional tightening is necessary because inflation remains above the central bank’s target.

“I currently estimate the target range needs to rise an additional 50 basis points or more,” Logan said during remarks at the Federal Reserve Bank of Dallas.

The federal funds target range currently stands at 3.75% to 4%, following last month’s 25-basis-point increase. Logan said inflation appears to be settling in the mid-2% range and is unlikely to fall much further without additional rate increases.

She also said the economy is strengthening and the labor market remains relatively balanced, conditions she argued do not indicate that monetary policy is sufficiently restrictive.

“At minimum, a few additional increases in the target range would undo the FOMC’s risk management cuts from last fall,” Logan said.

Logan’s position comes as other senior Fed officials have called for more time to evaluate incoming economic data before making another move. New York Fed President John Williams and Fed Vice Chair Philip Jefferson have both indicated that there is no need for an immediate rate increase.

The debate comes as financial markets have been adjusting to higher borrowing costs and rising Treasury yields. The benchmark 10-year Treasury yield briefly reached a 24-year high Thursday before retreating to around 5.24%.

Logan did not specify when the additional rate increases should occur. She said the Fed will need to continue watching inflation, employment, economic growth, consumer spending, and financial conditions as officials determine the appropriate level of monetary policy.