Fed’s Schmid backs rate hike, says inflation not only energy-driven
Kansas City Fed President Jeff Schmid said he supported the Fed’s recent rate hike to help lower inflation trending above 2% that is not just driven by high energy costs.
Kansas City Federal Reserve President Jeff Schmid said on Friday he supported this week’s rate increase as a step toward bringing down inflation, which is running above the Fed’s 2% target and is not solely being driven by high energy costs.