Home News Fed’s Schmid Says He’s More Confident Inflation Heading to 2% Goal

Fed’s Schmid Says He’s More Confident Inflation Heading to 2% Goal

August 9, 2024

(Reuters) – Kansas City Federal Reserve Bank President Jeff Schmid, one of the U.S. central bank’s more hawkish policymakers, said on Thursday that recent “encouraging” data gives him more confidence that inflation is cooling and sets the table for a reduction in the Fed’s interest rate.

“Given the multi-decade shock to inflation that we have experienced, we should be looking for the worst in the data rather than the best,” Schmid said, noting that prices can be volatile and the Fed needs “longer periods” to be sure of inflation’s path.

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