Fed's Schmid: Don't Want to 'Overshoot' Amid Supply Shocks
Dow Jones
Yesterday
1106 ET - One of the bigger challenges for monetary policymakers is figuring out what's underneath a supply shock versus what's true demand, says Kansas City Fed president Jeff Schmid in Asheville, North Carolina. "Hopefully when things like headline types of pricing calm down, because you don't want to overshoot," Schmid says. Schmid said in September, that even without energy prices, inflation is still running too hot across a broad range of goods and services. The Fed raised rates by 25 basis points last month--and investors have lowered their bets this week that they will raise again in October.
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