Fed's Schmid said his focus remains on still-elevated inflation and that the Fed defines price stability as 2% inflation. He called June's s

Fed's Schmid said his focus remains on still-elevated inflation and that the Fed defines price stability as 2% inflation. He called June's slowdown encouraging but cautioned it is too early to rely on a single data point; volatile oil prices both boosted inflation in prior months and contributed to June's pullback. With oil prices rising again, any energy-driven easing is uncertain.