KANSAS CITY, Mo. -- The Federal Reserve announced a cut in interest rates on Wednesday, after officers approved the cut in a 10-2 vote.

One of the dissenting votes was from Kansas City Federal Reserve President and CEO Jeffrey Schmid, who preferred that the fed delay cuts.

“Which tells me that the Kansas City Federal Reserve thinks that business conditions are awfully good and they certainly are surveying, you know, local businesses in the area,” said Scott Colbert, Chief Economist at Commerce Bank.

“Will Kansas City benefit disproportionately more or less than the rest of the country? I think it will benefit pretty much the same, but the Kansas City economy on a relative basis has been in a very steady state anyhow.”

Colbert pointed to the slowdown in job growth as one of the main rea

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