Federal Reserve Schmid: If inflation remains low, rate cuts are appropriate

Mr. Schmid said a rate cut would be appropriate if inflation remained persistently low; was close to the inflation target but "not fully achieved"; supported reforms to make the Fed's discount window tool more effective; the discount window could be a liquidity risk management tool; growth and demand remained strong despite the weak jobs report in July; and the Fed's current policy stance was "not as restrictive".