Schmidt: Inflation remains a key issue for the Federal Reserve, with no clear monetary policy response

According to Jin Ten, Fed's Schmid stated on Wednesday that high inflation remains a key issue that the Fed needs to address, but he did not specify how monetary policy should respond. Schmid said, "I think we still have work to do on inflation," while noting that the employment situation is quite good. He pointed out that the large amount of mortgage-backed securities held from the Fed's past bond-buying actions continues to suppress housing borrowing costs, and mortgage rates "could be 75 to 100 basis points lower than their original levels."