Fed Official Schmid: Core Inflation Remains Above 2%
Core inflation remains above target at 3.2%
Fed official Schmid said inflation excluding energy remains well above 2% and is broad-based across goods and services. 5pp higher than in June last year. While recent price pressures include supply shocks — shipping disruptions, oil and tariffs — Schmid cautioned against blaming inflation solely on supply factors, saying it reflects imbalances between supply and demand.