{"id":61203,"date":"2025-10-08T03:00:27","date_gmt":"2025-10-08T01:00:27","guid":{"rendered":"https:\/\/housesmarketplace.com\/kansas-city-fed-chair-backs-cautious-approach-on-rates\/"},"modified":"2025-10-08T03:00:27","modified_gmt":"2025-10-08T01:00:27","slug":"kansas-city-fed-chair-backs-cautious-approach-on-rates","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/kansas-city-fed-chair-backs-cautious-approach-on-rates\/","title":{"rendered":"\u041f\u0440\u0435\u0434\u0441\u0435\u0434\u0430\u0442\u0435\u043b\u044c \u0424\u0420\u0421 \u041a\u0430\u043d\u0437\u0430\u0441-\u0421\u0438\u0442\u0438 \u043f\u043e\u0434\u0434\u0435\u0440\u0436\u0438\u0432\u0430\u0435\u0442 \u043e\u0441\u0442\u043e\u0440\u043e\u0436\u043d\u044b\u0439 \u043f\u043e\u0434\u0445\u043e\u0434 \u043a \u0441\u0442\u0430\u0432\u043a\u0430\u043c"},"content":{"rendered":"
\n

Kansas City Federal Reserve Bank<\/strong> President Jeff Schmid said Monday that inflation remains above the Fed\u2019s goal and backed current interest rate policy \u2014 even as the labor market cools and housing costs remain a key driver of inflation.<\/p>\n

Speaking to the CFA Society Kansas City, Schmid said he voted in favor of the Fed\u2019s September quarter-point rate cut<\/a> but sees no need for aggressive easing. <\/p>\n

\u201cConstraints lead to difficult decisions over how to balance competing objectives, and the Fed has been tasked with these difficult decisions when it comes to inflation and employment,\u201d he said. \u201cIn balancing this constraint, my view is that the Fed must maintain its credibility on inflation.\u201d<\/p>\n

He said inflation<\/a> expectations remain stable but warned that could change quickly if policy loosens too fast. <\/p>\n

\u201cI view inflation expectations not as an input, or signal, for the Fed to respond to, but as the output of the policy decisions that the Fed makes,\u201d he said.<\/p>\n

Schmid told the room<\/a> he will continue to take a \u201cdata-dependent\u201d approach ahead of the next Federal Open Market Committee (FOMC) meeting Oct. 28-29. <\/p>\n

\u201cWhile I am hopeful that the government data that underpins Fed decision-making will soon become available again, in the meantime, I will be monitoring alternative labor market and price data closely,\u201d he said. \u201c[That includes] data we gather from District surveys and reports from our network of contacts as we approach our next FOMC meeting at the end of the month.\u201d<\/p>\n

Inflation pressures <\/h2>\n

Turning to the economy, Schmid said the Fed is \u201crelatively close\u201d to achieving its dual mandate of price stability and full employment<\/a> \u2014 but \u201cstill not there yet.\u201d<\/p>\n

\u201cInflation is too high,\u201d he said. \u201cThe Fed has defined price stability as an inflation rate of 2%. Over the 12 months ending in August, prices increased 2.7%. Looking through the effects of a recent decline in gas prices, the rate of inflation was closer to 3%.\u201d<\/p>\n

Schmid pointed to persistent price pressures in both goods and services \u2014 citing housing costs, utilities and electricity as key contributors. He also noted that tariffs have pushed durable goods prices higher than historical trends.<\/p>\n

One worrying sign is that price increases<\/a> are also becoming more widespread. <\/p>\n

\u201cAt the start of the year, 70% of consumption categories reported price increases. By August, almost 80 percent of categories had increasing prices,\u201d he said.<\/p>\n

Labor market cooling but balanced<\/h2>\n

On employment, Schmid said the labor market has cooled considerably<\/a> this year, which may help ease inflation pressures while carrying a level of risk. <\/p>\n

\u201cJob growth has slowed dramatically since April,\u201d he said. \u201cOn average, employers have added about 25,000 jobs a month compared to an average of above 200,000 per month in the three years going into April.\u201d<\/p>\n

Still, the job market remains fundamentally stable, Schmid added. <\/p>\n

\u201cThe unemployment rate is 4.3%, which is low relative to most of its history,\u201d he said. \u201cAnother common indicator, the vacancy ratio, or the number of posted job openings per person reporting themselves as unemployed, remains near one \u2014 right in line with the level consistent with a healthy balanced labor market.<\/p>\n

\u201cLooking across the range of labor data included in the Kansas City Fed\u2019s aggregate Labor Market Condition Indictors suggests a labor market that has cooled but remains healthy.\u201d<\/p>\n

Policy \u2018only slightly restrictive\u2019<\/h2>\n

Schmid said that while the labor market\u2019s slowdown suggests policy is restrictive, financial conditions remain fairly loose. <\/p>\n

\u201cEquity markets remain near record highs, corporate bond spreads are very narrow, and junk bond issuance is high,\u201d he said. \u201cNone of this suggests that financial conditions are particularly tight or that the stance of policy is restrictive.\u201d<\/p>\n

He added that investment in artificial intelligence<\/a> and other technology continues to bolster growth \u2014 with software spending reportedly growing at the fastest pace on record in the second quarter. <\/p>\n

\u201cOverall, given the state of the economy and financial markets, I view the current stance of policy as only slightly restrictive, which I think is the right place to be,\u201d Schmid said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Kansas City Federal Reserve Bank President Jeff Schmid said Monday that inflation remains above the Fed\u2019s goal and backed current interest rate policy \u2014 even as the labor market cools and housing costs remain a key driver of inflation. Speaking to the CFA Society Kansas City, Schmid said he voted in favor of the Fed\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-61203","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nKansas City Fed chair backs cautious approach on rates - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/kansas-city-fed-chair-backs-cautious-approach-on-rates\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kansas City Fed chair backs cautious approach on rates - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Kansas City Federal Reserve Bank President Jeff Schmid said Monday that inflation remains above the Fed\u2019s goal and backed current interest rate policy \u2014 even as the labor market cools and housing costs remain a key driver of inflation. 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