Schmidt: Opposes interest rate cuts, concerned about rising inflation risks

According to Jin Ten, Kansas City Fed President George Schmidt voted against the Federal Reserve's decision to cut interest rates this week, citing concerns that economic growth and investment could put upward pressure on inflation. He stated that the labor market is generally balanced, the economy shows sustained momentum, and inflation remains too high. Schmidt reiterated that monetary policy should maintain a certain restraint on demand growth and pointed out that interest rate cuts could have a more lasting impact on inflation.