Odd Lots · Thursday, August 27, 2026
Kansas City Fed President Jeffrey Schmid expressed his preference for an open and transparent debate within the FOMC, contrasting it with a 'my way or the highway' approach. He appreciates Chairman Warsh's willingness to accept debate and values the insights from other Fed presidents, noting that Warsh's extensive experience provides a strong foundation for his leadership.
“I actually have a great appreciation for what Chairman Warsh talks about. And I think less about the family fight is more about being willing and accepting to the debate. And so, look, you can get into these environments They're big, they're heavy, there's lots of issues that you want to deal with. But to have a chairman on any board, and I used to be chairman of bank boards, you want people's truths. You want to see where they stand because, frankly, a lot of times those truths may impact the way I think about things. So it's really more about being transparent and willing to accept a debate versus saying, look, You've got other leaders that say, you know, my way or the highway. And so I don't like that style. I prefer the openness of a debate.”
“I have a high amount of respect for what he thinks because he's lived it. He's studied it. And so I'm always listening to not only him, but there's 11 other presidents that probably have double my IQ that I have just a real amount of respect for.”