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

OdailyOdaily reported that Federal Reserve's Schmid stated he will continue to closely monitor persistently high inflation and believes Fed officials should clearly indicate their willingness to take all necessary measures to achieve price stability. Schmid pointed out: "With inflation exceeding the Fed's 2% price stability target for over five consecutive years, now is definitely 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 acceleration in retirements, the number of people seeking employment has decreased, and the current U.S. labor market is in a state of supply-demand balance. Earlier this month, Schmid stated that inflation is the "most pressing" risk facing the current U.S. economy. (Jinshi)