Reported about 5 hours ago
Kansas City Fed President Jeff Schmid expressed increased caution regarding inflation in light of rising consumer expectations for price increases. Speaking at a USDA conference, Schmid emphasized the importance of vigilance against inflation risks, especially after recent data showed a surge in inflation expectations and a significant decline in consumer confidence. He warned against prematurely lowering interest rates, citing lessons from the 1970s, and noted that uncertainty might impact economic growth.
Source: YAHOO