Jeffrey Schmid Talks Inflation Concerns, Fed Independence

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, dives into current inflation concerns and defines monetary policy as 'moderately restrictive.' He discusses the critical challenges to Fed independence, especially following political pressures like calls for a governor's resignation. In an engaging conversation, Schmid highlights the importance of adaptability in monetary policy post-pandemic and emphasizes clear communication about the Fed’s dual mandate of employment and price stability. The dialogue balances serious economic insights with a sprinkle of sports predictions.