Kansas City Fed President Says Rates Should Lean Against Demand Growth
The article discusses the views of Jeff Schmid, the president of the Federal Reserve Bank of Kansas City, regarding interest rate policy. Schmid stated that the Federal Reserve should continue to raise interest rates to counteract the persistent high inflation in the US economy. He emphasized the need for the central bank to lean against demand growth, implying that further rate hikes are necessary to curb inflationary pressures. The article suggests that Schmid's comments align with the broader stance of the Federal Reserve, which has been aggressively raising interest rates in an effort to bring inflation under control. However, the article does not provide any specific details about the magnitude or timing of future rate increases that Schmid may have discussed.
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