Federal Reserve Bank of Kansas City President Jeffrey Schmid discusses inflation concerns, his view that monetary policy is “moderately restrictive,” and consideration of the central bank’s dual mandate. Schmid also addressed challenges to Fed independence after President Donald Trump called for the resignation of Fed Governor Lisa Cook amid allegations that she committed mortgage fraud. Schmid spoke with Michael McKee Wednesday on the sidelines of the Jackson Hole Economic Policy Symposium.
00:00 – Schmid addresses concerns about inflation
02:15 – How small businesses are handling tariffs
02:59 – Schmid sees policy as “moderately restrictive”
04:52 – The Federal Reserve’s policy framework
07:00 – Schmid on Fed communication and transparency
08:09 – Challenges to Fed independence
10:49 – Schmid on “healthy friction” in the Fed’s dual mandate
——–
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