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
Miran's comments suggest a notable shift towards a more dovish stance from the Fed, emphasizing the belief that PCE inflation will normalize, particularly in the housing sector.
Fiserv (FISV) FY adj. EPS view 8-8.30 (exp. 8.13)
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
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This reiteration of rate cut expectations highlights concerns over the lag effects of monetary policy, potentially influencing market sentiment towards a lower rate path, which could weigh on USD and impact broader asset classes.
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