KC Fed Pres Schmid is speaking and says:
- Continued inflation is the most pressing risk to the economy
- It is clear inflation remains too high
- US economy has shown “remarkable resilience” and economic fundamentals remain sound
- Higher oil prices still drain household spending power and raise business costs
- US economy less vulnerable to global oil disruptions than in past
- Labor market is “functioning effectively”
- Consumer spending remains the biggest driver of activity, supported by wealth gains
- Business investment remains strong, especially tied to tech and AI buildout
- Banking sector conditions remain fundamentally sound
Overall tone: Hawkish — resilient growth and persistent inflation concerns argue for keeping policy restrictive longer. This is congruent with other Fed officials who has spoken recently. The CPI, PPI, import price data released over the last few days are driving the Fed official chatter.
.
This article was written by Greg Michalowski at investinglive.com.
