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

Odaily Planet Daily reports that Federal Reserve President Schmid stated he will continue to closely monitor persistently high inflation and believes Fed officials should make clear their willingness to take all necessary measures to achieve price stability. Schmid noted: "Given that the inflation rate has exceeded the Fed's 2% price stability target for over five consecutive years, this is by no means a time to let our guard down." "We must continue to clearly communicate our commitment to maintaining price stability and our willingness to take necessary action to fulfill our statutory mandate."

Schmid also pointed out that due to a slowdown in immigration inflows and an acceleration in the number of retirements, the number of people seeking employment has decreased. Currently, the U.S. labor market is in 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)