Kansas City Federal Reserve President Jeff Schmid, an FOMC voter this year, said on Tuesday that he favors leaving the central bank’s benchmark rate unchanged for now because economic growth remains "solid" while inflation is still "too high." He described the current stance as "modestly restrictive" and "not far from neutral." Schmid added that the recently imposed U.S. tariffs appear to be having only a limited impact on prices, arguing that this is a reason to keep policy on hold rather than cut rates. He said he would reconsider his view if demand shows clear signs of weakening but, for the moment, supports a patient approach to any changes in monetary policy.