The President of the Federal Reserve Bank of Kansas City explains why he voted against this week: due to inflation being "too high," he opposes interest rate cuts

Jeff Schmid, President of the Federal Reserve Bank of Kansas City, voted against the Federal Reserve's interest rate cut this week. In his statement, he emphasized that current inflation levels remain too high, the economy continues to show growth momentum, and while the labor market has cooled, it remains overall balanced. He pointed out, "The current monetary policy stance is at most only moderately restrictive, and may not be restrictive at all." In the face of persistent inflationary pressures, he advocates for maintaining a "moderately restrictive" policy stance