Fed's Schmid (2028 Voter) says that his primary concern is inflation, which is "too hot"

Energy:

• Warns against viewing the oil shock as transitory.
• The US economy is less exposed to an energy shock relative to the past.
• US energy producers are not moving to invest in more production so far.
• Surging oil is weighing on spending power.

AI:

• There is some evidence AI is depressing hiring but not driving firing.

Economy/Inflation:

• Most data points to continued economic growth.
• Main focus is on getting inflation back to the 2% target.
• The Fed must signal commitment to lowering inflation.
• He places little stock in believing the recent inflation jump is transitory.

Labour Market:

• The job market is in balance, buoyed in part by healthcare hiring.