- .
- Pleased the BLS number is well behaved
- there is no evidence of tariff inflation
- There will always be an outlier in the data
- Thus far there is no evidence of tariff inflation. Only see relative price changes.
- US cars and airfares were some of the big contributors and they aren’t impacted from tariffs
- How much of the inflation is from illegal immigrants. Suggested the contributions from illegal immigrants to increases in rents
- Possibility of disinflation in services as policy tackles immigration.
- We generally don’t get revised data from the CPI.
- We can think about incentive schemes to increase response rates.
- When asked if he expected to be on the Fed Board by September, said that it is up to the Senate on the timing.
- I cannot comment on current Fed policy at the moment.
- The more Inflexible party bears the burden of the tariffs/taxes. There can be a shift to other goods, and other producers
- Confident that the tariffs will be borne by the countries that are being tariffed
Although he could not comment on his views on monetary policy, safe to say that he is a dove, supports immediate cuts. Miran is nominated for the role vacated by Adriana Kugler who step down from the Fed Board effective August 8. Board members have a permanent vote at all Fed interest rate meetings.
This article was written by Greg Michalowski at investinglive.com.