Fed’s Schmid says concerned about inflation, job market By Investing.com
Update: 2025-10-31
Description
Kansas City Federal Reserve President Jeffrey Schmid explains his dissenting vote against the recent interest rate cut, emphasizing the risk of weakening the central bank's fight against inflation and damaging its credibility. He believes a small rate cut won't significantly impact labor market stress, which he attributes to long-term shifts like technology and demographics. Schmid highlights the ongoing inflation concerns, with reports showing the Fed's preferred inflation measure at 2.8% annually, and people and businesses in his region feeling the impact of rising costs. He argues for a cautious approach, focusing on keeping demand in check and stabilizing prices rather than risking further inflation.
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