Fed's Schmid says on CNBC inflation sticky, rate policy not restrictive
SPY•Schmid says rate policy is not restraining the economy
Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Thursday the current setting of central bank rates is not providing restraint to the economy, suggesting he still favors raising rates to get inflation back to 2%.
Inflation is “still stubborn and it’s still sticky and we’ve got to continue to find ways to break through” and get price pressures back to the 2% target, Schmid said on CNBC on the sidelines of his bank’s annual research conference in Jackson Hole, Wyoming.
When it comes to rate policy, “I don't know what we're restricting currently with the rate policy that we're at today,” he said.
