Schmid is a known hawk and doesn't vote until 2028 so his comments don't carry too much weight:Can't be complacent about inflation expectationsFed must follow through with policy action to validate medium-term and long-term expectationsCan't assume oil price inflation will be transitoryHigher energy prices will increase inflation, including core inflationUS economic resilience should not be underestimatedExpected modest drag from sustained higher oil pricesFor a hawk, this isn't exactly screaming from the rooftops and it's why the market has reversed course after briefly pricing in rate hikes. Pricing now shows about a 30% chance of a single cut by December. This article was written by Adam Button at investinglive.com.