According to BlockBeats, on August 22, Kansas Federal Reserve President Schmid expressed a desire to see more economic data before supporting any decision to start cutting interest rates. Schmid acknowledged that inflation is moving in the right direction but emphasized that the Federal Reserve should remain patient. He stated, 'For me, it makes sense to really focus on some of the data in the coming weeks. Before we take action, or at least before I take action or recommend action, I think we need to see more information.'

Schmid also noted that a lack of caution in decision-making could lead to a slight resurgence in demand. Regarding the revised non-farm payroll data released yesterday, he commented, 'While it is a significant number, it does not fundamentally change my thinking when considering monetary policy.'