Fed's Miran (Voter, Dove) says believe that PCE inflation, particularly with housing, will converge down to normal levels; reiterates rate cut calls based on the lag of monetary policy

The remarks from Fed's Miran suggest a dovish stance, expecting PCE inflation to trend down toward normal levels, particularly influenced by housing.

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Allies close to UK PM's Chief Secretary Jones, say he is backing the PM and wants to get on with the job (contrasts earlier reporting), Bloomberg's Mayes reports

Fed's outgoing Miran does believe that PCE inflation, particularly with housing, and will converge down to normal levels and reiterates his rate cut calls based on the lag of monetary policy

Fed's Miran (Voter, Dove) says believe that PCE inflation, particularly with housing, will converge down to normal levels; reiterates rate cut calls based on the lag of monetary policy

Speculation that the speech for a leadership bid by UK Labour MP Streeting will be between 17:00-17:30BST, Times' Kendix reports

UK Health Minister Streeting has resigned from the cabinet; he does not immediately launch a leadership contest

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Context

This implies potential for rate cuts as the impact of previous monetary policy decisions materializes, signaling a softer monetary approach which could impact USD and fixed income markets, particularly in conjunction with ongoing inflation concerns in the broader economy.

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