Epistemic logics based on the possible worlds semantics suffer from the problem of logical omniscience, whereby agents are described as knowing all logical consequences of what they know, including all tautologies. This problem is doubly challenging: on the one hand, agents should be treated as logically non-omniscient, and on the other hand, as moderately logically competent. Many responses to logical omniscience fail to meet this double challenge because the concepts of knowledge and reasoning are not properly separated. In this paper, I present a dynamic logic of knowledge that models an agent’s epistemic state as it evolves over the course of reasoning. I show that the logic does not sacrifice logical competence on the altar of logical non-omniscience.