Kansas City Fed Honcho Dissents Rate Cut

We're sharing this note because we know that a lot of smart people read our blog and they understand these top level money moves . . .

For the rest of us . . . It's important to know that a branch of the "bank for banks" resides here in KC and opinion from this institution moves local markets.  

And so, perspective on news this week that impacts local wallets even if it doesn't generate brash headlines . . . Check-it: 

"At this week’s FOMC meeting I dissented against lowering the target range for the federal funds rate by 25 basis points. My preference would have been to leave the target range unchanged.

"By my assessment, the labor market is largely in balance, the economy shows continued momentum, and inflation remains too high. I view the stance of policy as only modestly restrictive. In this context, I judged it appropriate to maintain the policy rate at this week’s meeting.

"Talking to contacts in the Kansas City Fed’s district, I hear widespread concern over continued cost increases and inflation. Rising healthcare costs and insurance premiums are top of mind. In the data, inflation is spreading across categories, both goods and services. Inflation has been running above the Fed’s 2 percent objective for more than four years. As I have said before, I take small comfort in most measures of inflation expectations having not moved up. I view inflation expectations not as an input into Fed’s decisions, but as the outcome of the policy decisions that the Fed makes . . ."

Read more via www.TonysKansasCity.com link . . .

KC Fed: "The following statement is from Jeff Schmid, president and CEO of the Federal Reserve Bank of Kansas City, regarding his vote at the Federal Open Market Committee’s October 28-29, 2025, meeting.

CNBC: There were two Fed dissenters: Miran wanted a bigger cut and Schmid voted for no easing at all