Jeffrey Schmid, president of the Federal Reserve Bank of Kansas City, said inflation is not moving in line with the Federal Reserve’s objectives, which could warrant further monetary tightening. Inflation remains above the 2% target, according to the latest economic data. Schmid did not explicitly call for a rate hike, but his comments highlight the Fed’s continued focus on persistent inflationary pressures. Prediction markets assign an 87.5% probability to at least one rate hike in 2026. Future statements from Fed officials, particularly Chair Jerome Powell, and upcoming inflation and employment data will help determine the likely direction of monetary policy.
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