In his first public speech as a member of the Federal Reserve Board, Stephen Miran dissented sharply with his colleagues, calling for aggressive interest rate cuts and warning that current monetary policy is "very restrictive".Miran Argues Real Neutral Rate Is ‘Near Zero’Speaking at The Economic Club of New York, Miran argued that the appropriate federal funds rate is in the "mid-2 percent area," nearly two percentage points below its current level, and that failing to act poses "material risks to the Fed's ...

This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: Federal Reserve Governor Stephen Miran on Monday dismissed the risk of tariff-induced inflation and called for two, half-percentage-point cuts to the main interest rate next quarter to avert higher unemployment. Tariff revenues, tax policy and a crackdown on immigration have likely reduced the so-called neutral rate of interest — or the level that neither spur ...

By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -New Federal Reserve Governor Stephen Miran said on Monday that the Fed is misreading how tight it has set monetary policy and will put the job market at risk without aggressive rate cuts, a view countered in remarks by three of his colleagues who feel the central bank needs to remain cautious about inflation. Miran, a week into his new job on leave from the Trump administration, told the Economic Club of New York he feels the central bank has ...