Federal Reserve board member Stephen Miran said the U.S. central bank should be more aggressive in cutting interest rates.
Last week, the Fed lowered a key policy rate by a quarter point for the first time this year to a new target range of between 4 percent and 4.25 percent. While investors anticipated substantial rate-cutting over the next 15 months, monetary policymakers signaled a more conservative outlook.
Officials believe the federal funds rate—which influences borrowing costs for businesses and consumers—will settle at around 3 percent by the end of 2027.
But Miran said that it should be “almost 2 percentage points lower,” or about 2.5 percent….
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