Fed's Schmid says need patience to see how tariffs play out
April 16 (Reuters) - Kansas City Federal Reserve Bank President Jeff Schmid on Wednesday said he is hearing nervousness about tariffs in the agricultural sector, but that the recent decline in energy prices may deliver an offsetting "shot in the arm" that could also limit inflation a little bit, creating a complicated mix for policy decisions.
"I just think that we've got to, we've got to be a little patient to see how some of these things play out," Schmid said in a webcast conversation with Dallas Federal Reserve Bank President Lorie Logan at a Dallas Fed event.
At the end of the day, he said, the Fed will "react in a positive way to any of those disruptions that might affect that dual mandate," referring to the Fed's two mandates of achieving price stability and full employment for the U.S. economy.
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