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Michael Strain comments on economist Jason Furman's perspective on inflation and the broader economic outlook. Strain states he disagrees on two points: he is less optimistic about inflation outside of Iran and tariff effects, and he believes the U.S. labor market is not as relaxed as Furman suggests.
Strain recently argued that the Fed should bring inflation back to its target to restore durable U.S. prosperity and stability, according to a previous article. He also warned that an Iran-driven oil shock could further damage U.S. inflation psychology and called for Fed action in a separate statement. Strain's latest comments continue his focus on inflation risks and policy responses.