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2026-05-29 19:01:30
[Fed's Schmid: Oil Price Surge Not Temporary, Inflation Too High and Not a Reason to Let Down Our Guard] Kansas City Fed President Schmid stated at an economic conference in Reykjavik that inflation has been too high and has been well above the 2% target for far too long. He is not convinced that the recent price increases are temporary within an acceptable timeframe, and therefore, the focus remains on inflation when determining the correct policy path. Schmid added that given the length of time inflation has remained above target, now is not the time to let down our guard.
