In a Bloomberg TV interview recorded on Wednesday and aired Thursday, Kansas City Fed Bank President Jeff Schmid emphasized the importance of waiting for additional economic data before making any decisions on rate cuts.
“It makes sense for me to really look at some of the data that comes in the next few weeks,” Schmid stated.“ Before we act — at least before I act, or recommend acting — I think we need to see a little bit more.”
Schmid also downplayed concerns arising from a recent Bureau of Labor Statistics report that suggested payroll growth over the past year may have been overstated by 818k jobs.
Despite the significance of the number, Schmid remarked, “While it’s a big number, it doesn’t really change the path of the way I think of things when I think about monetary policy.”
