Fed Can’t Be Complacent About Still-Hot Inflation, Schmid Says

Federal Reserve Bank of Kansas City Jeff Schmid reiterated that inflation is too high, adding that the latest numbers suggest it’s nearly a percentage point above the US central bank’s target.

“Inflation has been above the Fed’s objective for nearly five years now,” Schmid said Tuesday in remarks prepared for an event in Denver, Colorado. “I don’t think we have room to be complacent.”