Fed’s Miran Says He’d Adjust Inflation View If Rents Turn Higher

Federal Reserve Governor Stephen Miran said he’d amend his inflation view if housing costs unexpectedly jumped, conceding that his out-of-consensus opinion isn’t necessarily set in stone.

Miran, speaking in an interview Friday on Bloomberg Television, again pointed to factors like stricter immigration policies under President Donald Trump and trends in average rent prices that are likely to bring housing inflation down.

“If something were to happen that were to tell me that that channel is invalidated, that there’s some shock that’s going to be pushing rents materially higher, the benign inflation forecast that I have would have to be adjusted ...