A growing chorus of Fed officials say they would have preferred to hold interest rates steady this week, voicing concern about inflation. Kansas City Federal Reserve president Jeff Schmid said Friday he favored no rate cut at this past week’s policy meeting because he’s more concerned that inflation is “too high” than he is about the job market, which he sees as largely in balance. “I do not think a 25-basis-point reduction in the policy rate will do much to address stresses in the labor market that more ...