Kansas Federal Reserve President Schmid: Not ready to support interest rate cuts yet

ChainCatcher news, according to Jinshi reports, 2024 FOMC voting member and Richmond Fed President Barkin stated that the Federal Reserve has time to assess whether the U.S. economy is normalizing or weakening, the latter of which would require officials to take more forceful action.

Kansas Fed President George, on the other hand, indicated that despite inflation exceeding targets and a healthy labor market, he is not yet ready to support interest rate cuts.

It is reported that George is one of the more hawkish Fed officials, stating that two years ago inflation surged to a decades-high, and it is necessary to cautiously evaluate progress, "We should look at the worst-case scenarios in the data, not the best."