Kansas City Fed Seyz Inflation 'Too Hot'

We have some readers that understand money talk so we wanted to share this comment from the local elite the run the game and what that cash in your wallet is REALLY worth . . . 

Here's the word from the local fed honcho . . .

"Inflation remains too high, the economy shows continued momentum, and the labor market—though cooling—remains largely in balance. I view the current stance of monetary policy as being only modestly, if at all, restrictive. With this assessment, my preference was to leave the target range for the policy rate unchanged at this week’s meeting . . . Right now, I see an economy that is showing momentum and inflation that is too hot, suggesting that policy is not overly restrictive."

Read more via www.TonysKansasCity.com links . . .

Fed's Schmid says he dissented because inflation is too hot, policy should be modestly restrictive

Kansas City Federal Reserve President Jeffrey Schmid said he dissented against the central bank's quarter point rate cut this week because inflation is "too hot" and monetary policy should remain modestly restrictive to keep it in check.

Will borrowers see lower rates? What the Fed's interest rate cut means for you

Mortgage rates have been largely unchanged.

Why Jerome Powell's latest rate cut still won't help you get a lower mortgage rate | Fortune

"Since this rate cut was no surprise, the markets have taken it in stride," 43-year mortgage industry veteran Melissa Cohn told Fortune.

Developing . . .