Two members of the Federal Reserve's top leadership indicated Tuesday they don't think the central bank needs to lower interest rates, arguing the economy is managing to hold its own despite worries of high inflation and job losses. Kansas City Fed President Jeff Schmid, a voting member of the Fed's interest-rate committee this year, said the consumer-price index data, released earlier Tuesday, didn't justify a rate cut in September. Investors see a September rate cut as likely after the July CPI report. The Trump administration argues that the data show tariffs are not boosting inflation as feared. Schmid said that ... (full story)