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Jeffrey Schmid said Thursday that inflation remains "stubborn and sticky," though he stopped short of calling for a rate increase
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Kansas City Federal Reserve President Jeffrey Schmid said Thursday that he is not certain the Fed's current interest rate policy is doing enough to restrain inflation, adding uncertainty to the outlook for monetary policy heading into the fall.
Speaking on CNBC's "Squawk Box" from the central bank's annual Jackson Hole, Wyoming symposium, which the Kansas City Fed hosts, Schmid said inflation has proven resilient. "It's still stubborn and it's still sticky, and we're we've got to continue to find ways to break through," he said. "We're going to have our work cut out for us as we move into the [Federal Open Market Committee] cycle."
