Kansas City Fed's Schmid Says Supported Rate Hike, Recent Data Suggest Inflation Trending Above 3%; Rate Hike Was A Step Towards Returning To The 2% Target; Current Inflation Problem 'not Just About Energy,' Price Growth Has Been 'Hot' Across A Broad Set Of Goods And Services; High Inflation A Sign Supply And Demand Are Out Of Balance; Outside Of Inflation The Economy Is Performing Well
- Speaks on "Payments, Banking and the Federal Reserve" at the Independent Community Bankers of Colorado Annual Convention at The Hythe in Vail, Colorado
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Why It Matters
A Federal Reserve leader said inflation is still too high across many things. The Fed is raising interest rates to try to bring prices back down.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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