Kansas City Fed President: Inflation issue has not yet been resolved

Kansas City Fed President Jeffrey Schmid said inflation remains above the Fed's 2% target and policymakers have not yet fully resolved the inflation problem. "We still haven't solved the inflation problem," Schmid said Friday while participating in a discussion in Kansas City. "Inflation has been above target for more than five consecutive years." Schmid said policymakers will pay attention to stock market valuations and economic performance, but will not be "too micro" in their observations. Schmid does not have a monetary policy vote this year, but he has previously said he supports a Fed rate hike this month.