Fed Governor Urges Accelerated Rate Cuts Amid Escalating Trade Tensions
Federal Reserve Governor Stephen Miran has called for immediate and deeper interest rate cuts, citing heightened risks from renewed U.S.-China trade tensions. Speaking at CNBC's Invest in America Forum, Miran emphasized the need for a 1.25 percentage point reduction by 2025, building on September's 25 basis point cut.
The policy urgency comes as markets grapple with economic uncertainty during a U.S. government shutdown-induced data blackout. "I previously assumed the uncertainty had dissipated," Miran noted, "but these new trade developments potentially reset the landscape." His remarks precede October's critical Fed meeting, where officials must reconcile market turbulence with their forward guidance.