economy
Fed Governor Miran Still Backs Cuts, Says Interest Rates Could Be 'About a Point' Lower This Year
Federal Reserve Governor Stephen Miran spoke Monday on CNBC's "Squawk on the Street."
TL;DR
- Federal Reserve Governor Stephen Miran is campaigning for lower interest rates.
- He advises policymakers to ignore current energy price spikes unless they show longer-lasting inflation impacts.
- Miran cites market-based indicators showing inflation expectations remain anchored.
- He believes monetary policy works with a lag and is not designed for short-term market movements.
- Miran has dissented at recent meetings, suggesting rates could be about a point lower.
- His term has expired, but he continues to serve as former Governor Kevin Warsh's nomination is pending Senate approval.