Kansas Federal Reserve President Jeff Schmid will not attend the upcoming Federal Open Market Committee (FOMC) meeting due to the passing of his wife. In his absence, Minneapolis Federal Reserve President Neel Kashkari will vote in his place.

This substitution ensures that the Kansas City Fed's regional perspective continues to be represented in the committee's monetary policy decisions. The FOMC rotates voting rights among regional Fed presidents annually, and alternate voters are designated to step in when needed.

Our thoughts are with President Schmid and his family during this difficult time.