Fed's Schmid: Inflation is still too high, Fed has more work to do
Trending Articles- Gold slumps below $4,800 on renewed Strait of Hormuz tensions
- How Will the U.S.-Iran Situation Evolve? What Is Behind the Nasdaq’s Record High?
- Gold holds steady above $4,800 amid US-Iran ceasefire uncertainty
- Nasdaq Index Rises for 10 Straight Days, Why Has Tesla Barely Risen?
- WTI drifts higher to near $89.00 amid Lebanon-Israel ceasefire strains
- AUD/USD climbs above 0.7170 as truce hopes lift risk appetite
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.
