Fed’s Schmid: Further rate cuts could allow higher inflation for longer
Federal Reserve (Fed) Bank of Kansas City President, Jeffrey Schmid, said it is appropriate to maintain a restrictive monetary policy as inflation approaches 3%.

Federal Reserve (Fed) Bank of Kansas City President, Jeffrey Schmid, said it is appropriate to maintain a restrictive monetary policy as inflation approaches 3%. He also noted that the current inflation rate indicates strong demand outpacing supply growth, in comments prepared for delivery to an economic forum in Albuquerque, New Mexico, on Wednesday.

Key takeaways

Further Fed rate cuts could allow higher inflation to persist for longer.

Not seeing evidence current level of interest rates is restraining economy.

Appropriate to keep restrictive monetary policy with inflation close to 3%.

Productivity improvements could allow faster growth without inflation, but 'we are not there yet'.

Current inflation rate indicates still-strong demand is outpacing improvements in supply.

There are opportunities to reduce bank reserve demand and thus lower the Fed's balance sheet.

Price shocks are 'transitory' based on central bank's response, Fed needs to keep focus on 2% inflation target.

Recent improvements in productivity could be about workers staying in jobs longer, as opposed to stemming solely from technology.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.32% -0.03% -0.57% 0.39% -0.46% 0.03% 0.64%
EUR -0.32% -0.35% -0.91% 0.06% -0.77% -0.29% 0.32%
GBP 0.03% 0.35% -0.57% 0.42% -0.42% 0.06% 0.67%
JPY 0.57% 0.91% 0.57% 0.97% 0.12% 0.61% 1.23%
CAD -0.39% -0.06% -0.42% -0.97% -0.84% -0.36% 0.26%
AUD 0.46% 0.77% 0.42% -0.12% 0.84% 0.48% 1.10%
NZD -0.03% 0.29% -0.06% -0.61% 0.36% -0.48% 0.61%
CHF -0.64% -0.32% -0.67% -1.23% -0.26% -1.10% -0.61%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).


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Name / Symbol
Diagramm
% Änderung / Preis
GBPUSD
1 T Änderung
+0%
0
EURUSD
1 T Änderung
+0%
0
USDJPY
1 T Änderung
+0%
0

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