Schmid is a hawk so his comments aren't a surprise:Inflation is too high, it has been a five year fight and the Fed is still trying to figure it outMost of the higher prices people are paying for energy are staying in the US economyThe big question for oil is how long prices stay high and that is a political questionData suggests the economy is doing wellThe big question now is whether the Fed should stay patient on rates This is succinct, and accurate. This article was written by Adam Button at investinglive.com.