Fed's Miran: Falling home prices will drive disinflation

There is no discernible difference from higher core goods than elsewhereBorder policy in recent years has been a big driver of shelter pricesNow we have negative net migration so I’m expecting that to exert quite a lot of disinflationAcknowledges being low end of dot plotSays he will give a full accounting of dissent in a speech on MondayMiran 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 HouseThe longer Fed policy stays restrictive, the greater the risk to job marketI think H2 will have stronger growth but implications for mon pol are not very bigMy dot isn’t so far from everyone else’s next yearI’m clearly in the minority in not being concerned about inflation from tariffsMiran’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.

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