Federal Reserve Schmid says he needs to be patient and wait for the effect of tariff policy
According to online reports, Federal Reserve Schmid said on Wednesday that the Federal Reserve's decision-making is facing a complex situation. He pointed out that although he had heard of tensions in the agricultural sector over tariffs, the recent fall in energy prices could serve as a "shot in the arm" to curb inflation to some extent. "I just think we have to be patient and see how these things play out," Schmid said. Eventually, he said, the Fed will "respond in a proactive manner to any distractions that may affect the dual task" of achieving price stability and full employment. Schmid also briefly talked about the importance of the Federal Reserve's political independence, saying that it is because of this political independence that Fed policymakers can only consider U.S. financial and economic stability when setting interest rates. (Jin Shi)
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