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Fed's Schmid Warns Against Calling Oil Shock Transitory

Original: Fed’s Schmid Warns Against Viewing Oil Shock as Transitory

Kansas City Fed President Jeffrey Schmid has cautioned against dismissing the recent oil price shock as a temporary, transitory event, signaling concern that energy-driven inflation could prove more persistent than markets assume. His comments add to debate inside the Federal Reserve over how to respond to price pressures stemming from energy markets.

Why now: Oil price moves are feeding directly into the inflation outlook and expectations for Fed interest rate policy.

Jeffrey SchmidFederal Reserveoil market

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Evidence

• Fed’s Schmid Warns Against Viewing Oil Shock as Transitory · EnergyNow.com

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