Federal Reserve (Fed) Bank of Kansas President Jeffrey Schmid struck an overall positive tone on Tuesday, stating that he believes inflation and employment are both heading toward desired levels.
Fed eral Reserve Bank of Kansas President Jeffrey Schmid struck an overall positive tone on Tuesday, stating that he believes inflation and employment are both heading toward desired levels.
Key highlights Rate cuts are an acknowledgment of fed's confidence inflation is on a path to 2% target. Large fiscal deficits will not cause inflation because the Fed will prevent it, though that could mean higher interest rates. Now is the time to dial back restrictiveness of policy. I see full employment, inflation trending lower and solid growth. It is not my expectation that we'd see pre-pandemic rates. Rates are still somewhat restrictive, but not overly so.
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