Fed's Schmid: We Have Work to Do on Short-Term Rate
Dow Jones02:40
1440 ET - Kansas City Fed President Jeff Schmid said the Fed still has work to do on short-term interest rates, even though longer-term Treasury yields remain elevated. Speaking at a fireside chat, Schmid said higher long-term rates are "no doubt" changing behaviors in the investing world through cost of capital and credit. However, Schmid said the Fed is focused on the short federal funds rate. "Personally, I think we have some work to do on the short rate, even though I would say that the yield curve right now is in a more traditional place."
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