Federal Reserve's Schmid explains reasons for opposing interest rate cuts, citing concerns over high inflation

The President of the Federal Reserve Bank of Kansas City, Schmid, stated that the reason I voted against the interest rate cut this week is due to concerns that economic growth and investment could put upward pressure on inflation. In my assessment, the labor market is essentially balanced, the economy shows sustained momentum, and inflation remains too high. Businesses in the region are concerned about ongoing cost increases, and monetary policy should restrain demand growth