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. 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.