Economic Buzz: Kansas Fed says inflation above Fed's goal, sees no need for aggressive easing

Kansas City Federal Reserve Bank President Jeff Schmid has stated that US inflation remains above the Fed?s goal. Speaking to the CFA Society Kansas City, Schmid said he voted in favour of the Fed?s September quarter-point rate cut but sees no need for aggressive easing. Constraints lead to difficult decisions over how to balance competing objectives, and the Fed has been tasked with these difficult decisions when it comes to inflation and employment, he said. He also backed current interest rate policy and said inflation expectations remain stable but warned that could change quickly if policy loosens too fast.

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