The Federal Reserve Schmid said it needs to wait patiently for the effect of tariff policy

The Federal Reserve faces complications in its decision-making, Schmid said on Wednesday. He noted that while he has heard of nervousness in the agricultural sector over tariffs, the recent drop in energy prices could serve as a "shot in the arm" to curb inflation to some extent. "I just think we have to be a little bit patient and see how these things play out," Schmid said. Ultimately, he said, the Fed will "respond in a positive way to any distractions that may affect the dual mandate" of achieving price stability and full employment. Schmid also briefly touched on the importance of the Fed's political independence, saying that it is precisely because of political independence that Fed policymakers can set interest rates with only the financial and economic stability of the United States in mind. (Jin Ten)