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Kansas City Fed President Jeff Schmid said the U.S. economy remains strong and continues to grow. Schmid said he agrees with Fed Chairman Kevin Warsh's explanation for the rise in U.S. Treasury yields, namely that the recent increase in yields has been driven mainly by capital demand stemming from artificial intelligence investment and geopolitical challenges, rather than solely by monetary policy factors. Schmid also believes that the U.S. Treasury Department's implementation of a Treasury buyback program will not make it more difficult for the Fed to conduct monetary policy.