MNI BRIEF: Fed Rate Policy Is Overly Tight, Miran Says

Federal Reserve policy is overly restrictive because underlying price pressure are being overstated by factors like lagging housing prices, Fed Governor Stephen Miran said Wednesday. 

“I think inflation is going to come down. I think Fed policy is too restrictive,” Miran told an event at Cambridge University. “I think that the inflation that we're measuring is actually quite backward looking.” (See MNI INTERVIEW: Fed's Risk Management Cuts Not Enough-Revelio)