KC Fed's Schmid: Cutting rates won't provide much benefit for jobs

Summary

Steve Liesman reports on Kansas City Fed President Jeff Schmid's hawkish policy view. Schmid prefers keeping rates unchanged, citing economic momentum and too-hot inflation, and argues cuts would not help the job market much. He also sees tax policy and deregulation supporting growth while tariff, AI, and productivity effects may still be unfolding.

• Kansas City Fed President Jeff Schmid prefers keeping rates unchanged.
• Schmid says the economy is showing momentum and inflation remains too hot.
• He argues rate cuts would not provide much benefit for the job market.
• He says monetary policy is not very restrictive by his own measure.
• He expects tax policy and deregulation to spur business investment and consumer spending.
• He says tariff, AI, and productivity impacts may not have been fully felt yet.
• No specific investable securities or assets were named in the report.