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Fed Governor Miran Advocates Rate Cuts Amid Inflation Warnings

9/30/2025

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Summary

Story summary

Federal Reserve Governor Stephen Miran calls for rate cuts, arguing Trump policies lower the neutral rate.
He says the current rate is too high; the neutral rate nears zero, unlike peers who estimate it about one point higher.
Critics warn inflation persists and aggressive cuts carry risks; Miran notes tariffs could lower the rate, though trends may push it higher.

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Story summary

Federal Reserve Governor Stephen Miran calls for rate cuts, arguing Trump policies lower the neutral rate.
He says the current rate is too high; the neutral rate nears zero, unlike peers who estimate it about one point higher.
Critics warn inflation persists and aggressive cuts carry risks; Miran notes tariffs could lower the rate, though trends may push it higher.