Fed’s Schmid Says Tighter Policy Needed to Hit 2% Inflation
Kansas City Fed President Jeff Schmid stated Wednesday that current monetary policy is insufficient to bring inflation back to the 2% target, describing price pressures as 'too high' and 'worrisome'.
On Wednesday, Kansas City Federal Reserve President Jeff Schmid said tighter monetary policy is necessary to return inflation to the 2% target.
'Inflation is too high,' Schmid said in prepared remarks, adding that recent price data are 'worrisome.' He stressed the current policy stance is insufficient to achieve the Fed's goal.
His comments reinforce the hawkish tone from Fed officials as they weigh further rate moves.
Source: FXStreet Forex News