Federal Reserve official Schmid said on Sept. 18 that he voted in favor of a rate hike, arguing that recent data show the inflation trend remains above 3%. He said the move was a step toward restoring the Fed’s 2% inflation target. Schmid also said the current inflation problem is not limited to energy, adding that price growth across a broad range of goods and services remains hot. In his view, elevated inflation points to an imbalance between supply and demand. He added that, aside from inflation, the economy is performing well. The remarks were reported by BlockBeats.
Federal Reserve official Schmid said on Sept. 18 that he voted in favor of a rate hike, according to BlockBeats. He said recent data show the inflation trend remains above 3%.
Schmid said the rate increase was a step toward restoring the 2% inflation target. He added that the current inflation problem is not just about energy, with price growth across a broad range of goods and services still 「hot」.
He also said high inflation is a sign of an imbalance between supply and demand. Aside from inflation, he said the economy is performing well.
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