Fed’s Miran: Other policymakers are more concerned about tariffs driving inflation

September 25, 2025
-FXnews

They are not accounting for the population growth shock due to immigration changes
There are material consequences to the shift from looser immigration to a net drop in immigration
AI has a lot of power to drive the economy
But need to be careful about the precise estimates of its impact
Economists need to be humble about expectations for AI
I’m more sanguine about growth than others and still have a lower rate outlook
My view on rate cuts is based on expectation that neutral is being pushed lower by tax policy, immigration
Fed needs to be forward-looking about changes that are underway in the economy

It seems like he’s making an early appearance on Fox before speaking to Bloomberg later. The headline remark is no surprise given the voting outcome we’ve seen last week

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