Fed’s Schmid Says Rates ‘Quite Accommodative,’ Inflation Top Concern

Cointime update: Kansas City Fed President Jeff Schmid said on Tuesday that inflation is the Federal Reserve’s top concern and signaled support for tighter monetary policy to control it. Schmid said he did not view rates as sufficiently restrictive last year and that the current level is “quite accommodative,” with the focus now on assessing how monetary policy can more effectively influence inflation.