Federal Reserve's Schmid: A moderately restrictive monetary policy should be maintained.

Kansas City Federal Reserve President Schmid stated that he opposes the Fed's 25-basis-point rate cut this week, arguing that inflation "remains too high" and monetary policy should remain moderately restrictive to curb price pressures. Schmid said, "What I see right now is an economy that still has momentum, and inflation is 'too hot,' which suggests that current policy is not overly tight." Schmid pointed out that since he opposed the rate cut in October, the situation "hasn't changed much": inflation remains above the 2% target, the labor market is "generally balanced," and there is no urgent reason for a rate cut. (Jinshi)