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Kansas City Fed's Schmid: Labor Market Strong, Inflation Fight Continues
Kansas City Fed President Schmid says labor market is solid but more work needed on inflation. He supported September's rate hike.
06/10/2026 17:414 min read
- Schmid described the labor market as being in a healthy condition.
- He added that the Fed still has progress to make in defeating inflation.
Jeffrey Schmid, who leads the Kansas City Fed, has kept a hawkish stance on inflation. Last week, Schmid took part in a panel alongside Richmond Fed President Tom Barkin and Boston Fed President Susan Collins.
- Schmid backed the September rate increase, as did Barkin and Collins.
- With the economy broadly stable, the Fed has room to concentrate on restoring price stability, making inflation the top concern.
- He stated that the central bank still has unfinished business regarding its inflation mandate.
- Elevated borrowing costs are putting pressure on housing and commercial lending. axios.com
In my view, Schmid continues to prioritise inflation while acknowledging that rising market rates are tightening financial conditions. These comments do not signal a firm commitment to another rate hike in October.
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