Federal Reserve's Schmid: Maintain restrictive rates to address inflation pressures

According to Jin Ten, Fed's Schmid stated that interest rates should remain at a level that continues to pressure the economy in order to further cool inflation. He tends to maintain a moderately restrictive monetary policy and pointed out that rate cuts may not stimulate hiring, as the slowdown in growth is driven by structural factors. He is concerned that rate cuts could have a more lasting impact on inflation, questioning the commitment to the 2% inflation target.