Fed's Schmid (2028 voter, hawk) says data suggests economy is doing well and inflation is too high and Fed is still trying to figure it out

Most of higher prices peple are paying for energy are staying int he US economy. Big question for oil is how long prices stay high, that is a political decision. Biggest risk facing economy right now is inflation. The big question now is whether the Fed should stay patient on rates Issue is whether the Fed needs to raise rates to "tamp this thing down" and meet the inflation target The 2% target is easy to communicate, Fed should not blur message around that.