Fed Rate Cut Debate Intensifies as Dissent Grows Within FOMC

Stephen Miran has reiterated his call for a 50 basis point rate cut at December's FOMC meeting, warning that incremental moves risk keeping the Fed behind the curve. The persistent hawk-dove divide was laid bare in October when Kansas City Fed President Jeffrey Schmid opposed any cut whatsoever - putting him at odds with Miran despite both dissenting from the quarter-point reduction.

The Fed's internal rift comes as markets increasingly price in policy easing, with cryptocurrency traders watching for potential knock-on effects in digital asset valuations. Bitcoin and Ethereum could see volatility around the December decision, particularly if the Fed delivers an unexpectedly large cut or maintains an unexpectedly hawkish stance.

"Nothing is certain," Miran cautioned during a CNBC interview, leaving room for revised expectations should economic data shift. His consistent advocacy for more aggressive easing - including dissenting votes in September and October - highlights growing pressure on Chair Powell to clarify the Fed's forward path.