Fed's Schmid: Fed expected to achieve 2% inflation target by 2026

Fed's Schmid said that the Fed is not expected to achieve its 2% inflation target until 2026. The final stage of inflation falling to 2% may be the most challenging for monetary policy. The Fed's quantitative tightening is somewhat contradictory to rate cuts. The Fed's balance sheet stance is still pushing down yields. Will oppose the move to stop the Fed's balance sheet reduction at this time. Don't want the move to reduce the balance sheet to cause volatility.