Fed official sends strong signal on December interest-rate cut

The affordability buzz has apparently reached another Federal Reserve hawk. And his message has definitely shaken the markets. A growing number of Fed officials have been warning in recent days that inflation remains “too high.” Enter Federal Reserve Bank of Kansas City President Jeff Schmid. He said Nov. 14 that additional interest-rate cuts could do more to cement higher inflation than shore up the sagging labor market. Schmid said he didn’t think “further cuts in interest rates” would do much to su ...