Federal Reserve's Schmid: Must Clearly Communicate Commitment to Curbing Inflation

Odaily reported that Federal Reserve's Schmid stated he will continue to closely monitor persistently high inflation, and believes that Fed officials should clearly indicate their willingness to take all necessary measures to achieve price stability. Schmid pointed out: "Given that inflation has remained above the Fed's 2% price stability target for over five years, this is certainly not the time to let our guard down." "We must continue to clearly communicate our commitment to maintaining price stability and our willingness to take necessary actions to fulfill our statutory mandate."

Schmid also noted that due to a slowdown in immigration inflows and an accelerated increase in retirements, the number of people seeking employment has decreased, and the current U.S. labor market has reached a state of supply-demand balance. Earlier this month, Schmid stated that inflation is the "most pressing" risk currently facing the U.S. economy. (Jin Shi)