NEW YORK — Kansas City Federal Reserve President Jeff Schmid signaled on Thursday a reluctance to cut interest rates again as the US central bank comes into the new year facing a resilient economy and inflation that remains above its 2-percent target.

'We are currently pretty close to meeting our dual mandate of price stability and full employment' and, 'with inflation close to target and growth showing continued momentum, I believe we are near the point where the economy needs neither restriction nor support and that policy should be neutral,' Schmid said in the text of a speech to be delivered before the Economic Club of Kansas City.