Fed’s Schmid calls for cautious, gradual, deliberate approach to rate cuts

Federal Reserve Bank of Kansas City President Jeffrey Schmid

• Calls for cautious, gradual, deliberate approach to rate cuts
• Says he prefers to
  avoid outsized rate cuts
• ‘reasonably
  confident’ inflation heading in right direction
• We are seeing a
  normalization of labor market, not a deterioration
• Current policy is
  restrictive, but not very restrictive
• Interest rates will
  settle well above levels seen in pre-pandemic decade
• Preference is for
  relatively aggressive approach to balance sheet reduction

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.