Fed's Schmid: Inflation is still too high, Fed has more work to do
Trending Articles- Gold Price Trend Forecast: Why Did Gold Prices Fall After US CPI Cooled? Fed Chair Speech and Iran Situation Become Obstacles
- Gold Price Trend Forecast: June CPI Plus Fed Chair Congressional Testimony, Can Gold Price Hold Above $4,000?
- TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold Off
- Gold Price Forecast: Cooling Inflation Fails to Offset Fed Hawkish Pressure, Gold Price May Fall to $3,500
- Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?
- Today’s Market Recap: Unexpected PPI Drop Boosts Markets, Apple Hits All-Time High, AI Hardware Stocks Remain Under Pressure, Micron, SanDisk Slump
Kansas City Federal Reserve Bank President Jeffrey Schmid spoke at the regional bank's agricultural summit on Tuesday. Schmid said that inflation remains too high and the US central bank has more work to do.
Key quotes
“Policy is in the correct place.”
“Continued vigilance, flexibility are necessary.”
“Prepared to be patient as inflation eases back toward 2%.”
“Inflation expectations remain relatively low and anchored.”
“Inflation is still too high, Fed has more work to do.”
“Interest rates could remain high for some time.”
“Labor market has come off a historic boil by many measures.”
“There are signs that imbalances driving inflation are easing.”
“Fed must preempt inflation from becoming ingrained.”
“Fed's job on inflation is made easier by supply increases.”
“My preference is to shrink Fed's balance sheet as much as possible, consistent with the operating framework.”
Market reaction
The US Dollar Index (DXY) is trading 0.04% higher on the day at 105.04, as of writing.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
