Central Banks
Fed’s Schmid Says Rates Could Remain High for ‘Some Time’
- Kansas City Fed president says he’s prepared to be patient
- Schmid expects inflation to return to Fed’s 2% target
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Federal Reserve Bank of Kansas City President Jeffrey Schmid said interest rates could remain high “for some time” as policymakers await evidence that price pressures are easing.
The Kansas City Fed chief said monetary policy “is in the correct place” and he expects inflation to return to the Fed’s 2% target.