Schmid warns against inflation complacency amid oil surge
Fed President Jeff Schmid warned that rising energy costs could stall inflation progress. He urged policy actions to address risks despite economic resilience.
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Kansas City Federal Reserve President Jeff Schmid issued a stern warning on Tuesday regarding the trajectory of inflation, cautioning against the assumption that rising energy costs will be merely temporary. Speaking to the Rotary Club of Oklahoma City, Schmid noted that inflation was already hovering near 3% prior to the conflict involving Iran, which triggered a significant spike in global oil prices.
