Fed’s Schmid Says Officials Must Stay Focused on Inflation (1)

Federal Reserve Bank of Kansas City President Jeff Schmid said he remained focused on elevated inflation and officials should make it clear they’re willing to do what is needed to achieve price stability.

“With inflation running above the Fed’s 2% definition of price stability for over five years, now is not the time to let down our guard,” Schmid said Friday in remarks prepared for a conference in Reykjavík, Iceland. “We must continue to signal our commitment to price stability and our willingness to take the actions necessary to achieve our mandate.”

Fed officials are turning more attention to inflation ...