Fed's Schmid backs rate hikes as December odds hold at 84.5%
CIE News ·
Kansas City Fed President Jeff Schmid stated on October 6, 2026, that policy rates need to rise further to curb inflation. Bitcoin traded between $86,050 and $86,250 following the remarks.
Kansas City Federal Reserve President Jeff Schmid stated on October 6, 2026, that the U.S. central bank needs to increase its benchmark policy rate further to curb inflation. Schmid argued that current monetary policy remains insufficiently restrictive, indicating that policy might be accommodative on the short end and concluding that the Fed still has work to do.
His remarks contrasted with calls for patience from other policymakers ahead of the release of the September FOMC minutes. Market-implied pricing showed the probability of a 25-basis-point increase at the October 28 meeting dropped to 20.5%, while the probability of a rate hike at the December meeting remained at 84.5%.
Bitcoin (BTC) traded between $86,050 and $86,250 following Schmid's statements.