Fed's Schmid calls for tighter monetary policy, inflation too high

They spent all last year lowering rates, which struck me as insane. Unemployment was only slightly above target (4.4%). Inflation was already well above target, at 2.7%. Stock markets certainly didn't need any additional support. The 2024 election supposedly turned on inflation.

So yeah, we should have tighter monetary policy. We should have had it two years ago. Why now?

We've had a recent surge in inflation, but that has more to do with oil and wars than with monetary policy.