Reported about 12 hours ago
New Federal Reserve governor Stephen Miran has called for interest rates to be approximately 2 percentage points lower than the current range, emphasizing that high rates are detrimental to employment and could lead to unnecessary layoffs. In a speech in New York, he argued that the Fed should prioritize labor market stability over inflation concerns. While he dissented in the Fed’s recent decision to cut rates by a quarter percentage point, Miran anticipates more significant cuts in the near future to achieve what he sees as a more balanced economic policy.
Source: YAHOO