INFLATION PROBLEM? Fed governor says he DOESN'T see one

• Fed Governor Miran believes banks are 'overregulated' and supports 'right-sizing the regulatory apparatus,' with optimism for the Basel 3 finalization soon.
• He does not see a macroeconomic 'inflation problem,' attributing current core PCE inflation partly to statistical quirks and housing market measurement, and advocates for 1% (four 25bps) rate cuts this year.
• Miran acknowledges AI will destroy some jobs but expects it to create new categories of jobs, aligning with historical technological progress.

Federal Reserve Governor Stephen Miran discusses bank overregulation, private credit, and his outlook on inflation and interest rates. He believes banks are overregulated and advocates for significant rate cuts this year, stating he doesn't see an inflation problem. He also addresses AI's impact on jobs.