FED'S SCHMID SAYS THE CENTRAL BANK'S RATE-SETTING ISN'T RESTRAINING THE ECONOMY WITH INFLATION ABOVE TARGET, WHILE FED'S COLLINS SAYS THEY CONTINUE TO SEE RATES AS MILDLY RESTRICTIVE AND FED'S

HAMMACK TOLD CNBC NOW IS THE TIME FOR OFFICIALS TO ACT TO CONTAIN PRICE PRESSURES.

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