Fed’s Miran says December rate cut would be reasonable
Federal Reserve Governor Stephen Miran supports a December interest rate cut, warning that tight monetary policy could increase the risk of an economic downturn. Miran advocates for proactive rate adjustments and has previously dissented in favor of larger cuts, showcasing divisions among policymakers. Federal Reserve Chair Jerome Powell notes significant variation in views on future cuts among officials.
Fed Governor Supports December Rate Cut
Federal Reserve Governor Stephen Miran suggests that a December interest rate cut is the most reasonable course of action. This stance is based on current economic conditions and the need for policy adjustments to foster economic stability.
Concerns About Tight Monetary Policy
Miran has warned that continuing with a tight monetary policy may increase the likelihood of an economic downturn. He advocates for a more proactive approach to rate adjustments to mitigate potential risks to the economy.
Dissent at the Latest Fed Meeting
During the latest Federal Reserve meeting, Miran dissented, arguing for a larger rate cut than what was decided. This highlights a divide among Federal Reserve officials regarding the appropriate pace and extent of monetary easing.
Chair Powell's Perspective on Policy Debate
Federal Reserve Chair Jerome Powell acknowledged the diverse views among policymakers concerning future interest rate cuts. He emphasized that there is still significant debate ahead of the December policy decision.