Golden Finance reported that as we enter the new year, the Federal Reserve faces a strong economy and inflation that is still above its 2% target. Kansas Fed President Schmid signaled on Thursday that he is unwilling to cut interest rates again. Speaking at the Economic Club of Kansas City, Schmid said that "we are now very close to achieving our twin goals of price stability and full employment" and that "with inflation approaching target and economic growth showing continued momentum, I believe we are close. There is a tipping point where the economy needs neither restraint nor support, and policy should be neutral. "In the current environment, "interest rates are likely to be very close to long-term levels," Schmid said. He said: "I favor gradual adjustments to policy and will only react if the tone of the data continues to change." He also said, "The strength of the economy makes us patient."