WASHINGTON, Dec 15 (Reuters) - Current above-target inflation does not reflect underlying supply and demand dynamics that are generating price increases much closer to the central bank's 2% target, Federal Reserve Governor Stephen Miran said on Monday,

Federal Reserve governor Stephen Miran has said that “phantom inflation” is distorting the US central bank’s decision-making and causing it to keep interest rates too high.

He has attended three policy meetings and dissented for a larger interest rate cut three times.

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American colleges & universities saw their costs inflate by 3.6% in FY2025, a slight uptick from a 3.4% increase in FY 2024, but a decline from the 4.0% rate in FY2023.

Federal Reserve Governor Stephen Miran again argued the central bank’s policy stance is unnecessarily restrictive on the economy, pointing to his benign outlook for inflation and warning signs in the labor market.

Inflation has cooled down a bit, but grocery prices are still pretty high. From 2020 to 2024, the all-food Consumer Price Index (CPI) rose 23.6%, a higher increase than the all-items CPI, which grew 21.2% over the same period, according to the U.S. Department of Agriculture (USDA).

Treasury Secretary Scott Bessent said he may have one or two more interviews with candidates this week and next week, before he makes his recommendation to President Donald Trump for the next Federal Reserve chair,