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Fed's Schmid says high inflation still bigger issue facing central bank
Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Wednesday that overly high inflation remains a key problem the central bank needs to address, but he stopped short of saying how monetary policy should respond. “I think we have work to do on the inflation side of things,” while “I think we're in a pretty good place for employment,” Schmid said in an appearance before the Economic Club of Colorado. The bank president did not, however, say how that mix of factors is influencing his outlook for monetary policy. Schmid was a skeptic of the Fed’s push to lower the cost of short-term ... (full story)