Schmid Says Fed Can’t Be Complacent About Still-Hot Inflation

Federal Reserve Bank of Kansas City Jeff Schmid reiterated that inflation is too high, adding that the latest numbers suggest it’s nearly a percentage point above the US central bank’s target.

“Inflation has been above the Fed’s objective for nearly five years now,” Schmid said Tuesday in remarks prepared for an event in Denver, Colorado. “I don’t think we have room to be complacent.”

Fed officials are expected to keep interest rates on hold at their meeting this month after doing so at their first meeting of year in January. Most policymakers have said they prefer to keep rates unchanged ...