Fed Governor Miran Urges Swift Aggressive Rate Cuts Amid Data Delays

Federal Reserve Governor Stephen Miran has strongly advocated for more aggressive interest rate cuts, arguing that current policy is overly restrictive and risks causing economic harm such as layoffs and higher unemployment. He believes the neutral interest rate has declined due to factors including President Trump's immigration policies, which he expects will also ease housing cost inflation. Despite delays in key economic data due to a government shutdown, Miran insists that monetary policy should be forward-looking and not dependent solely on lagging indicators, urging the Fed to act swiftly. This position contrasts with other Fed officials who remain cautious about easing policy given inflation still exceeds the 2% target. Miran's stance has sparked debate within the Fed and financial markets, with concerns that maintaining high rates too long could create longer-term problems. His push for faster cuts could significantly impact market expectations, corporate borrowing costs, and overall economic strategy moving forward.