Fed's Schmid: Fed close to meeting mandates, needs to shrink balance sheet
|Federal Reserve (Fed) Bank of Kansas President Jeffrey Schmid hit newswires on Thursday, noting that most of the Fed's mandated targets have been hit as of late, and now it's time to start shrinking the Fed's books.
Key highlights
Interest rate policy may be near where it needs to be for the longer run.
Any further rate cuts should be gradual and data-driven.
The jobs market is weaker but still healthy.
The Fed should work toward Treasury-only holdings.
Inflation moving toward target, growth showing momentum.
The Fed is pretty close to meeting both of its mandates.
I want the Fed to shrink the balance sheet further.
I am optimistic inflation pressures will continue to abate.
I am optimistic over growth, hiring prospects.
I'm fairly optimistic inflation will continue declining.
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