Fed’s Schmid Says Policy in Right Place to Bring Down Inflation

Federal Reserve Bank of Kansas City President Jeff Schmid signaled the US central bank may not need to lower interest rates again soon, citing the need to keep bringing down inflation.

“I viewed the 25-basis point cut in the policy rate last week as a reasonable risk-management strategy,” Schmid said Thursday in prepared remarks for an event in Dallas. “That said, my view is that inflation remains too high while the labor market, though cooling, still remains largely in balance.”

He added that he views the current stance of policy as only “slightly restrictive, which I think is the right ...