Federal Reserve's Schmid: Must Clearly Communicate Resolve to Contain Inflation

BlockBeats News, May 29th, Federal Reserve's Schmiede said he would continue to closely monitor the persistent inflation and believes Fed officials should make it clear that they are willing to take all necessary measures to achieve price stability.

Schmiede pointed out: "Given that the inflation rate has been persistently above the Fed's 2% price stability target for over five years, now is not the time to lower our guard. We must continue to clearly communicate our commitment to maintaining price stability and our willingness to take necessary actions to fulfill our statutory mandate."

Schmiede also noted that due to the slowdown in immigration and the accelerated increase in the retirement population, the number of people seeking employment has decreased, and the current U.S. labor market is in a supply-demand balance. Schmiede had earlier stated this month that inflation is the "most pressing" risk facing the U.S. economy. (FXStreet)