Fed's Miran: No evidence of inflation shock from oil

 Federal Reserve Governor Stephen Miran said on Monday that there is no evidence of the oil price spike causing an inflationary shock. He added that inflation expectations are also unaffected and that there is currently no wage-price spiral.

Miran told CNBC that he expects inflation to return to the 2% target within a year and repeated his call for the Fed to cut rates by about a percentage point this year. He insisted that restrictive monetary policy is causing negative labor demand and argued that the Fed is "fighting the last war," referring to inflation.

https://breakingthenews.net/Article/Fed's-Miran:-No-evidence-of-inflation-shock-from-oil/65978654