US EditionUS Fed Official Backed Rate Pause because Inflation 'Too High'
54 Articles
54 Articles
Fed’s Schmid Cites Inflation Risks in Dissent Against Rate Cut
Federal Reserve Bank of Kansas City President Jeff Schmid said he voted against the US central bank’s decision to lower interest rates this week because he’s concerned that economic growth and investment will put upward pressure on inflation.
Fed Hawks Blast Rate Cut, Say US Inflation Is Too High
Two regional Federal Reserve bank presidents on Friday aired their disagreement with the U.S. central bank’s decision to cut interest rates this week, saying the labor market doesn’t need the support and inflation is too high to warrant such a move. The strikingly frank remarks — from Dallas Fed President Lorie Logan and Kansas City Fed President Jeffrey Schmid — underscore discomfort within the central bank over the direction of policy and sugg…
Schmid, From the Fed, Voted Against an Interest Rate Cut Due to Concerns About Persistent Inflation.
The official states that contacts in his district are concerned about continued increases in costs.
A US Federal Reserve official said Friday that he had voted against a cut in key interest rates earlier in the week, believing that inflation was "too high".
Reading time approx.: 1 minutes, 24 secondsConsumer prices rose in the US by 3% in the year until September, according to the Department of Labor earlier this month, and inflation has remained above the Fed's 2% target for more than four years. Kansas City Federal Reserve Bank President Jeff Schmid said he voted against the US central bank's decision to lower the interest rate this week because he is concerned that economic growth and investment…
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