Kansas City Fed President Jeff Schmid is sounding the alarm: the Fed’s current monetary policy isn’t restrictive enough to tame stubborn inflation. With demand and investment still roaring, he argues higher interest rates are essential to hit the 2% target — and he’s not buying the idea that supply chain shocks will fix themselves. Even though he doesn’t vote on rate decisions this year, Schmid’s pushing back against complacency, warning that inflation’s persistence hinges on how aggressively the Fed acts — or how markets expect it to act. While Fed officials remain divided, Schmid’s voice signals a growing urgency within the central bank to move faster before bigger hikes become inevitable.
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