Fed Stephen Miran, a well-known policy dove, said he is looking for “a little bit more than a point” of interest rate cuts over the course of the year, arguing that current monetary policy remains too restrictive for the economy. Speaking in an interview with Fox Business today, Miran said the balance of risks now favors easing rather than prolonged restraint.
Miran acknowledged that inflation remains above the Fed’s 2% target, but stressed that underlying price pressures appear far more benign than headline readings suggest. In his view, solid growth combined with easing regulatory burdens has improved the economy’s supply-side dynamics, giving policymakers room to cut rates without reigniting inflation.
While Miran’s formal term as a temporary governor ended at the close of January, he continues to serve until a successor is confirmed.
