Fed Official Advocates for Steeper Rate Cuts Amid Inflation Concerns
TL;DR
Governor Miran argues that current monetary policy is overly restrictive, with the appropriate federal funds rate around 2-2.25%, due to nonmonetary factors like fiscal policy, immigration, and deregulation affecting inflation, r*, and the output gap, and emphasizes the risks of maintaining such tight policy for employment and economic growth.
Topics:businesseconomics#demographics#economics#fiscal-policy#inflation#monetary-policy#neutral-rate
- Speech by Governor Miran on nonmonetary forces and appropriate monetary policy Federal Reserve Board (.gov)
- Fed Governor Stephen Miran pushes case for central bank to slash key interest rate CNBC
- There’s no ‘material inflation from tariffs,’ says new central banker Stephen Miran CNN
- Miran argues Fed rates pose risks to employment, should be roughly 2 points lower Yahoo Finance
- Trump appointee to Federal Reserve calls for steeper rate cuts San Francisco Chronicle
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