NEW YORK, Feb 3 (Reuters) – Federal Reserve Governor Stephen Miran continued to make the case for aggressive central bank interest rate cuts this year, in an interview on Fox Business Network on Tuesday.
“I’m probably looking for a little bit more than a point of interest rate cuts over the course of the year,” Miran said. He described the current state of monetary policy as too tight for the economy and said that while inflation is above the 2% target, underlying price pressures are more benign.
The solid underlying state of inflation coupled with strong growth powered by reduced regulatory burdens means the Fed can cut rates without spurring renewed price pressures, Miran said.
Miran’s term as a governor ended at the close of January but he remains in the position until a new policymaker is confirmed to hold his slot. Last Friday, President Donald Trump announced former central banker Kevin Warsh as his pick to lead the central bank.
(Reporting by Michael S. Derby; Editing by Alison Williams and Chizu Nomiyama )
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