Fed's Miran: Closer Alignment with Peers on 2026 Projections Despite Maintaining Conservative Outlook

Fed's Miran: I See Shelter Inflation Coming Down In Next 6-12 Months The Long Term Response To The Recent Fed Rate Cut Was Muted, But Do Expense Them To Come Down I Think Policy Is 150-200 Bps Too Restrictive Fed's Miran: I’m Probably More Sanguine On Growth Than Many At Fed Decent Shot At 3% Growth For The Second Half Of 2025 And Into 2026 View Of Rate Cuts Based On Expectation That Neutral Is Being Pushed Lower By Tax Policy And Immigration Fed's Miran: In The Next 6 Months Would Like The Fed To Be A Lot Closer To Neutral; Can Get There In A Series Of Half Point Moves There Is No Material Evidence Of Tariff Driven Inflation, But That Seems To Be Holding Up Others On The Fed

In the week ending September 20, the advance figure for seasonally adjusted initial claims was 218,000, a decrease of 14,000 from the previous week's revised level. The previous ...