Fed's Schmid (2028 Voter) says that his primary concern is inflation, which is "too hot"

Energy: Warns against viewing the oil shock as transitory. The US economy is less exposed to an energy shock relative to the past. US energy producers are not moving to invest in more production so far. Surging oil is weighing on spending power. AI:There is some evidence AI is depressing hiring but not driving firing.Economy/Inflation: Most data points to continued economic growth. Main focus is on getting inflation back to the 2% target. The Fed must signal commitment to lowering inflation. He places little stock in believing the recent inflation jump is transitory. Labour Market:The job market is in balance, buoyed in part by healthcare hiring.