Schmidt: Opposes rate cuts, concerned about rising inflation risks
According to ChainCatcher, citing a report from Golden Ten Data, Kansas City Federal Reserve President Schmid voted against the Federal Reserve's decision to cut interest rates this week, citing concerns that economic growth and investment could put upward pressure on inflation. He stated that the labor market is generally balanced, the economy is showing sustained momentum, and inflation remains too high. Schmid reiterated that monetary policy should continue to restrain demand growth and pointed out that rate cuts could have a more lasting impact on inflation.
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