Fed's Miran Says 'Unnecessarily Tight' Rates Could Lead to Job Losses
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Fed Governor Stephen Miran warns that overly tight interest rates could lead to job losses, attributing excess inflation to lagging shelter inflation. He emphasizes the need for monetary policy to focus on future years, not past conditions, highlighting a supply-demand imbalance from years ago. Miran's remarks were made at Columbia University, stressing the importance of forward-looking policy decisions.
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