Story perspectives

Fed Governor Stephen Miran Resigns, Pushes Bigger Rate Cuts

5/16/2026

Summary

Story summary

Stephen Miran, a Federal Reserve (Fed) Governor, will leave after a 71-year short tenure.
Stephen Miran said the Fed functions as a committee, slowing institutional change significantly.
Stephen Miran dissented at all six meetings, consistently pushing for larger rate cuts.
Stephen Miran now supports a three-quarters-point reduction, dropping one quarter-point cut as data.
Stephen Miran said deregulation could cut half a point of inflation while tariffs may offset.

1 of 1

Story summary

Stephen Miran, a Federal Reserve (Fed) Governor, will leave after a 71-year short tenure.
Stephen Miran said the Fed functions as a committee, slowing institutional change significantly.
Stephen Miran dissented at all six meetings, consistently pushing for larger rate cuts.
Stephen Miran now supports a three-quarters-point reduction, dropping one quarter-point cut as data.
Stephen Miran said deregulation could cut half a point of inflation while tariffs may offset.