Kansas City Fed President Jeffrey Schmid said inflation remains “top of mind” and described the Fed’s benchmark rate as “fairly accommodative” in remarks delivered on Tuesday at a Houston conference hosted by the Dallas Fed and the Kansas City Fed. He referred to “some concerning trends in prices” beyond energy, while also saying demand is strong and that interest rates are not prompting hesitation.
Labour Market and Housing Dynamics
Schmid characterised the labour market as solid, with hiring “pretty robust” lately, and said he could not see restrictive conditions outside housing, which he described as going through an “interesting dynamic”.
Technology and Forthcoming Data Releases
He also said instant payments will “leap over” digital asset structures, and pointed to a run of data releases between now and the Fed’s December meeting.
