In a speech delivered by Federalist member Jeffrey Schmid at the Economic Club of Oklahoma City he stated:
- We must be patient and monitor the economy's response to the applied policy tightening and wait for irrefutable evidence indicating success in combating inflation before starting to cut interest rates.
- With inflation exceeding the target, labor markets tightening, and demand showing significant momentum, my point is that there is no need now to proactively adjust the policy position.
- The Fed has not yet come out of high inflation, and it should be patient about cuts.
- It would be a mistake to consider crypto a currency, if cryptocurrencies are a currency, the US dollar may shy away from the surges that occur in bitcoin.
