Updated
Updated · Bloomberg · Jun 5Fed's Schmid Urges Focus on Inflation Above 2% for More Than 5 Years
3 articles · Updated · Bloomberg · Jun 5Summary
- Jeff Schmid said Fed officials must keep their guard up against inflation and clearly signal they are prepared to act to restore price stability.
- 2% is the Fed’s inflation goal, and Schmid said price growth has stayed above that definition of stability for more than five years.
- In remarks prepared for a conference in Reykjavík, the Kansas City Fed president said now is not the time to ease vigilance on inflation.
- The comments reinforce a broader message that the Fed still sees inflation control as central to meeting its mandate.
Insights
Can the Fed's interest rate hikes fix inflation caused by global conflict and supply chain chaos? Under a new Fed Chair, will the fight against inflation push the U.S. economy into a 2026 recession? With a crypto exchange now accessing the Fed, is this the future of finance or a systemic risk in disguise?