Fed's Schmid says he backed a hike, warns inflation trending above 3%

Fed's Schmid said he supported a rate hike, arguing recent data show inflation trending above 3% and price growth has been hot across a broad set of goods and services. He said high inflation signals supply and demand are out of balance, while the labour market appears in balance and the economy is performing well outside of inflation.

Detected & updated continuously · Source: Nebula