Fed's Miran states that inflation has worsened, yet continues to support several rate reductions within this year
Federal Reserve Governor Stephen Miran's Updated View on Inflation
On Thursday, Stephen Miran, a member of the Federal Reserve Board, indicated that his stance has shifted toward a more hawkish approach. He explained that persistent inflation has led him to reconsider the need for supportive monetary policies, which he previously favored more strongly.
Miran noted that the inflation situation has deteriorated since December, but he clarified that this change is not primarily due to the conflict in Iran. Instead, the unfavorable trend began in the months leading up to the war. He pointed out that the makeup of inflation has become less positive, with additional sectors now contributing to rising prices. This development, he said, has made the inflation challenge more complex than it was earlier in the year.
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