Federal Reserve's Schmid: Must Clearly Communicate Determination to Curb Inflation

Odaily reported that Federal Reserve Bank of Kansas City President Jeffrey Schmid said he will continue to closely monitor persistently high inflation and believes Fed officials should make it clear they are willing to take all necessary measures to achieve price stability. Schmid noted: "Given that inflation has been above the Fed's 2% price stability target for over five consecutive years, this is certainly not the time to let our guard down." "We must continue to clearly communicate our commitment to maintaining price stability, as well as our willingness to take necessary actions to fulfill our statutory mandate."

Schmid also pointed out 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)