Fed's Schmid: Businesses are trying to delay hiring to get through the current situation

Kansas City Fed President Jeff Schmid has made wide-ranging remarks:,

• Fed's Schmid says inflation too high, worrying that price rises becoming more widespread
• Fed's Schmid: Hard to know if stablecoin is anything different from Venmo on steroids

• Fed's Schmid says the Fed's balance sheet probably end this year close to US$6tln

and he's still going, more:

• Seeing a pause in labor conditions
• Businesses are trying to delay hiring to get through the current situation
• Hard to understand how the US dollar would not be the world's reserve currency for a long, long time

-

The Federal Reserve has, as part of its mandate, a responsibility to move the economy towards full employment. The labor market has stumbled, hence Schmid's concern. the 'current situation' is a diplomatic way to refer to the volatile, ill-informed, inept policies coming out of the White House.