NEW YORK, Feb 3 - Federal Reserve Governor Stephen Miran reiterated his call for significant interest rate reductions this year during an interview on Fox Business Network on Tuesday. In the conversation he said, "I'm probably looking for a little bit more than a point of interest rate cuts over the course of the year."
Miran characterized the stance of monetary policy as excessively tight for the economy at present. He noted that headline inflation remains above the central bank's 2% target, but emphasized that underlying price pressures appear to be more muted.
In Miran's description, the combination of this relatively benign core inflation picture and robust economic growth - which he attributed to lighter regulatory burdens - creates conditions under which the central bank can reduce rates without triggering a renewed acceleration in price growth. He presented this view as the rationale for advocating an aggressive easing path.
Although Miran's formal term as a governor concluded at the end of January, he continues to occupy the seat until a newly confirmed policymaker is in place. In a related development noted during the interview window, last Friday President Donald Trump named former central banker Kevin Warsh as his choice to lead the central bank.
The comments from Miran underscore a clear preference for a pronounced downward adjustment in the policy rate schedule in the months ahead, based on his read of inflation dynamics and growth drivers. He framed his stance around two central observations: that policy is tighter than the economy needs, and that the underlying trend in inflation is not currently signaling broad-based upside pressure.
Those observations form the public case Miran laid out on the network, including his explicit numerical expectation for aggregate cuts over the year and his argument that such moves should not automatically revive inflation given the conditions he described.
Note: This article reports the governor's statements and the administrative status described during the interview period. It does not introduce additional claims or developments beyond those presented by Miran and the cited announcement about the presidential nomination.