Kansas City Fed President Jeffrey Schmid said at the Jackson Hole symposium that inflation remains stubborn and sticky above the Fed’s 2% goal, after core prices rose 3.3% year over year, and that the 3.5%–3.75% policy range may not be restraining an economy that grew 1.5% in the second quarter with unemployment at 4.1%. He stopped short of endorsing a rate increase, saying more information is needed on demand, after dissenting twice last year against cuts as a voter; he does not vote on the FOMC this year. Boston Fed President Susan Collins has separately said the current stance is appropriate only if sustained disinflation continues, and that tightening would be warranted if progress stalls. Schmid also saw room to consider Chair Kevin Warsh’s idea of cutting FOMC meetings to six from eight. Markets and economist Torsten Slok still price a higher-for-longer path, watching PCE inflation, jobs, energy, tariffs and official remarks for effects on the dollar, yields and risk assets including Bitcoin.