[Fed's Schmid: Current Interest Rates Are Quite Loose; Inflation Remains the Top Concern] Kansas City Federal Reserve President Jeff Schmid stated on Tuesday that inflation is the Fed's primary concern and hinted at support for tightening monetary policy to control inflation. He said he didn't believe interest rates were sufficiently restrictive last year, and current interest rates are "quite loose." The current focus is on assessing how monetary policy can more effectively influence inflation trends.