Fed's Schmid (2028 voter) says little reason to cut rates; prefer to keep monpol modestly restrictive; inflation is too hot
Fed's Schmid's comments suggest a hawkish stance, emphasizing that current inflation levels justify maintaining restrictive monetary policy rather than cutting rates.
US President Trump was reportedly told an attack on Iran would not guarantee the collapse of the regime and could spark a wider conflict, according to WSJ
White House Press Secretary Leavitt says US President Trump is in the decision-making phase on the Fed chair, Trump will make decision in the next couple of weeks, but he likes a few people for Fed Chair
Fed's Schmid (2028 voter) says little reason to cut rates; prefer to keep monpol modestly restrictive; inflation is too hot
White House says Trump and his team have told Iran if killing continues, there will be grave consequences; 800 executions were halted in Iran; all options remain on the table for Iran
White House says Trump meeting with Machado underway
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- Cutting rates could worsen inflation without helping employment much.
- December CPI consistent with close to 3% inflation.
- Inflation a top concern among business contacts.
- Monpol is currently not very restrictive and economy shows momentum.
- Labour market stresses are structural, rate-cutting won't patch them over.
- Tax policy and deregulation likely to boost investment, spending, and demand.
- No room to be complacent on inflation.
His view indicates that the Fed is focused on inflation as the primary concern, which could influence the market's perception of future interest rate trajectories and impact the USD against other currencies.
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