In his first speech after taking up his new post, Federal Reserve Board member Stephen Miran asserted that the current monetary policy of the US central bank is too restrictive and needs urgent adjustment.
During his speech to the Economic Club of New York, Miran explained that recent changes in tax and immigration policies , along with lower rental costs , reduced regulatory restrictions , and tariff revenues , have created a new economic environment that gives the Fed enough room to cut interest rates by nearly two percentage points .
Miran added that the Federal Reserve's goal is price stability and maintaining inflation at a sustainable level of 2%, warning that continuing to tighten monetary policy in this way could expose the labor market and employment rate to significant risks.
#FederalBank #InterestRates #USEconomy #Inflation #LaborMarket #CentralBank #MonetaryPolicy #Economics #Forex #FinancialMarkets