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

*FED'S BOWMAN SAYS LABOR MARKET MORE FRAGILE THAN EXPECTED *BOWMAN SAYS FED IS WITHIN RANGE OF FED 2% INFLATION TARGET *BOWMAN SAYS APPROPRIATE TO SHIFT TO JOBS INSTEAD OF INFLATION BOWMAN SAYS TARIFFS WILL HAVE ONE-TIME PRICE IMPACT - Fed's Bowman indicates foreign suppliers are absorbing some tariff costs - This could influence trade dynamics and pricing strategies - Market watchers should keep an eye on the implications for U.S. trade relations

FED'S GOOLSBEE: JOB MARKET SEEMS TO BE COOLING, INFLATION IS GOING UP Fed's Goolsbee: Rates can go down a fair bit more if inflation heads toward 2%, but I'm wary of frontloading rate cuts. FED'S GOOLSBEE: RATES CAN DROP FURTHER IF STAGFLATION RISK FADES CHI FED'S GOOLSBEE Q&A/CRAIN'S: HAVING INFLATION GOAL AT 2% 'SUPER IMPORTANT;' DON'T CONSIDER CHANGING WHILE HAVEN'T REACHED CURRENT TARGET #Goolsbee #FederalReserve #economy GOOLSBEE: IF SITTING GOVT CAN TELL CENTRAL BANK WHAT TO DO WITH RATES, INFLATION GOES UP CRITICALLY IMPORTANT FOR FED TO REMAIN INDEPENDENT