Inside the Federal Reserve with Kansas City Fed President Jeff Schmid

What does the Federal Reserve actually do—and how do its decisions affect your money, your business and your financial future? In Part 1 of this special two-part conversation, The Inner Circle host Gil Cohen sits down with Jeff Schmid, president of the Federal Reserve Bank of Kansas City. A Nebraska native, Schmid shares his journey from growing up in Papillion and beginning his career as an FDIC bank examiner to building community banks and eventually becoming one of the leaders helping shape monetary policy in the United States. Schmid takes us inside the Federal Reserve system, explaining how regional banks represent local economies, how interest-rate decisions are made and why the Fed’s independence matters. He also discusses inflation, employment, the nation’s payment system and the enormous responsibility that comes with decisions capable of affecting millions of Americans. Whether you’re a business owner, investor or simply trying to better understand the economy, this conversation offers a rare look behind the curtain of America’s central bank. A Performance Podcast Production. ©Walnut Media USA 2026