Federal Reserve's Schmid: Maintaining restrictive interest rates to combat inflationary pressures

According to ChainCatcher, citing Jinshi, Federal Reserve Chairman Schmid stated that interest rates should be maintained at a level that continues to put pressure on the economy in order to further cool inflation. He favors keeping monetary policy moderately restrictive, noting that rate cuts may not stimulate hiring, and that the slowdown in growth is driven by structural factors. He is concerned that rate cuts could have a more lasting impact on inflation, questioning the commitment to the 2% inflation target.