Kansas City Fed President Jeffrey Schmid (voting FOMC member) CNBC interview
Mr. Schmid said:
- Lisa Cook will handle matters as she needs to; suggests that mortgage applications should be more simplified.
- There is a lot of optimism going into the last quarters of the year.
- He assumes that the labor data was impacted by immigration policies.
- The last mile of inflation is very hard.
- The Fed has some work to do to get inflation back to 2%.
- It is fair to say he is not in a hurry to cut interest rates.
- Asked about the September rate cut, says there is a lot of data between now and then.
- Markets are in good shape.