Fed's Clarida: Hope to see more data before rate cut

Kansas Fed President Schmid emphasized that he would like to see more economic data before supporting any decision to start cutting interest rates. Schmid acknowledged that inflation is moving in the right direction and believes that the Fed should remain patient. "For me, it makes sense to really focus on some data in the coming weeks. I think we need to see more information before I take action or recommend taking action." "I still think that if we are not careful in our decision-making, we may see a slight rebound in demand." Regarding the non-farm payroll revision data released yesterday, he said, "Although it is a big number, it will not really change my thinking on monetary policy."