US Stock Market | Fed's Schmid warns inflation still too hot, signals no urgency for Fed easing

Kansas City Fed President Jeffrey Schmid reiterated his opposition to further interest-rate cuts, citing persistent inflation above the Fed's 2% target and a balanced labor market. He warned against complacency as demand outstrips supply, pushing up services prices. Schmid remains optimistic about economic growth but dismisses current AI-driven productivity gains as a non-inflationary growth driver.