MIRAN: INFLATION STABILIZING, POLICY MAY BE TOO TIGHT Miran said prices are “once again stable” and argued monetary policy should reflect that. He noted shelter inflation lags the ongoing slowdown in rents, while some price increases are driven by non-market factors. Excluding housing and other distortions, he estimates core PCE inflation near 2.3%, within range of the Fed’s 2% target. Miran downplayed tariffs as the main driver of goods inflation and warned that keeping policy too tight risks unnecessary job losses.(*Walter Bloomberg)