Fed's Schmid says policy rate still likely needs to move higher
TLT•Kansas City Fed President Jeff Schmid said the Fed still needs to raise its policy rate further to lower inflation, despite higher long-term yields weighing on activity in some sectors.
1. Schmid favors further hikes
Schmid said higher bond yields may be raising credit costs and creating softness in some sectors, but he believes the Fed should focus on the short-term rate and still has work to do. He is not a voter on interest rate policy this year.
