Fed's Schmid says rates are 'appropriately calibrated'

By Ann Saphir (Reuters) -Kansas City Federal Reserve Bank President Jeff Schmid on Monday signaled he is disinclined to cut interest rates further, arguing that as the Fed navigates between the twin risks of overly tight and overly easy policy, it should stay focused on the danger of too-high inflation. Schmid voted for the Fed's September quarter-percentage-point interest-rate reduction, calling it appropriate risk management given the cooling in the labor market. But his hesitation about easing policy further shows the difficulty Fed Chair Jerome Powell faces in building a consensus for the Fed's next rate-setting decision later this month. At least a couple of other Fed policymakers have voiced concern that further rate cuts could reignite inflation, including Dallas Fed's Lorie Logan a