Kansas City Fed president Jeffrey Schmid sees no rush to cut interest rates, citing inflation above 2% target and strong labor market. Schmid emphasizes need for definitive data before policy changes. With inflation possibly closer to 3%, Fed must consider impact of rate cuts on public expectations. Fed Chair Jerome Powell to address annual research conference as policymakers debate rate cuts. Despite weaker jobs data, Schmid feels optimism among business contacts and believes current interest rate not hindering economy. Fed held rates steady in July, with dissenting governors and pressure from President Trump for cuts.

Read more at Yahoo Finance: Fed’s Schmid says no urgency to cut interest rates but more data to come