Fed's Schmid: Tighter Monetary Policy Needed to Lower Inflation

TechFlow news, August 5, Federal Reserve Bank of Kansas City President Schmid stated: "The Federal Reserve needs tighter monetary policy to bring inflation back to the 2% target; the Fed's current policy stance is not restrictive. Inflation is currently too high and concerning; the Fed should not ignore inflation, even if it is caused by supply shocks; the recent easing in energy prices may be temporary. Artificial intelligence investment is driving up inflation; the Fed should not ignore this." (Jin10)