Fed's Schmid (2028 voter) says tight monetary policies are needed to get inflation back to the 2% target, and that inflation is currently too high and is worrisome

Says: Current stance of Fed policy is not restrictive and recent relief on energy prices may prove temporary.  Economy is performing well overall and growth is resilient, while he welcomes recent inflation data, but says it's too soon to say if it's easing. PCE price index is the best way to measure inflation, and the Fed should not ignore inflation even if driven by a supply shock. Job market appears to be roughly in balance, and AI investment is driving up inflation, which the Fed should not ignore.