- There is no discernible difference from higher core goods than elsewhere
- Border policy in recent years has been a big driver of shelter prices
- Now we have negative net migration so I’m expecting that to exert quite a lot of disinflation
- Acknowledges being low end of dot plot
- Says he will give a full accounting of dissent in a speech on Monday
Miran thinks that falling home prices are going to offset stronger economic growth to drive inflation lower.
- It’s silly to say I’m just doing the bidding of the White House
- The longer Fed policy stays restrictive, the greater the risk to job market
- I think H2 will have stronger growth but implications for mon pol are not very big
- My dot isn’t so far from everyone else’s next year
- I’m clearly in the minority in not being concerned about inflation from tariffs
Miran’s argues that tariffs are a one-off increase yet he also argues that 1.5 million migrants leaving the country isn’t a one-off.
This article was written by Adam Button at investinglive.com.