Fed's Schmid: Hope to see more data before rate cut

BlockBeats news, on August 22, Kansas Fed President Schmid said he wanted to see more economic data before supporting any decision to start cutting interest rates. Schmid acknowledged that inflation is moving in the right direction, while believing that the Fed should remain patient. "For me, it makes sense to really pay attention to some of the data in the coming weeks. Before we take action, at least before I take action or suggest taking action, I think we need to see more information."

"I still think that if we are not careful in making decisions, we may see a slight pick-up in demand." As for the non-agricultural revised data released yesterday, he said: "Although this is a big number, it doesn't really change my thinking when thinking about monetary policy." (Jinshi)