A member of the Federal Reserve panel that makes decisions about monetary policy said that he favors keeping interest rates at their current level to prevent strong levels of economic activity spurring a resurgence of inflation.Federal Reserve Bank of Kansas City President Jeffrey Schmid said that, in his view of the economy, growth is solid and inflation is still elevated relative to the Fed's 2% target – so monetary policy should remain modestly restrictive."While monetary policy might currently be restrictive, it is not very restrictive. Given recent price pressures, a modestly restrictive...

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