Kansas City Fed Names Veteran Banker Schmid as President

The transcript discusses the appointment of Jeffrey Schmidt as the new head of the Kansas City Fed, highlighting his extensive banking background. Schmidt will assume office shortly before the Kansas City Fed's Economic Symposium in Jackson Hole, where his views on economic policy will be anticipated. Although not an economist, Schmidt's future role as a voting member of the FOMC in 2025 is noted, with uncertainty about his policy leanings. The transcript also mentions a vacancy at the Saint Louis Fed following Jim Bullard's resignation.

How does Jeffrey Schmidt's experience as a banker influence his role in the FOMC?

What vacancy remains open following Jim Bullard's announcement, and what implications might it have?