President of the Federal Reserve Bank of Kansas City: Maintaining a moderately restrictive monetary policy remains appropriate.

Jeff Schmid, President of the Federal Reserve Bank of Kansas City, stated that he believes the inflation risk is slightly higher compared to the labor market, but overall the monetary policy is in a good state. "As you get closer and closer to the optimal value of the dual mandate, it becomes more difficult to judge how policy rates should be marginally adjusted," Schmid said. Schmid stated that the debate on when to cut interest rates depends on whether individual policymakers believe that current policy is too restrictive. "I think policy is somewhat tight," he said. "I think we are on a good path."