US EditionTrump's 'Sock Puppet' At The Fed, Says Elizabeth Warren On Stephen Miran's Dissenting Vote: 'Intended To Send A Signal,' Says This Economist
Stephen Miran, newly confirmed Federal Reserve Governor, called for a half-point rate cut, diverging from the committee's quarter-point decision amid ongoing political tensions.
- Stephen Miran, a Trump appointee, was confirmed Monday to the Federal Reserve Board and dissented on a quarter-point rate cut, advocating a half-point reduction.
- Miran's dissent followed his selection to replace Adriana Kugler amid tensions over Fed independence and President Trump's desire for steeper rate cuts.
- While Miran urged more aggressive easing, his colleagues, including other Trump appointees Bowman and Waller, aligned with Powell to approve a smaller 0.25 percent cut.
- Miran's 2025 dot projection, calling for rates 0.75 points lower than others, drew criticism as signaling rather than likely policy according to economist Brian Jacobsen.
- The Fed's decision signals caution amid a challenging economy with rising inflation and sluggish growth, suggesting ongoing debates on the appropriate rate path through 2025.
15 Articles
15 Articles
Trump's 'Sock Puppet' At The Fed, Says Elizabeth Warren On Stephen Miran's Dissenting Vote: 'Intended To Send A Signal,' Says This Economist
Federal Reserve Governor Stephen Miran's dissent during Wednesday's FOMC meeting has drawn mixed reactions from economists and politicians alike.
Miran's Fed dissent makes a splash, fails to sway the outcome
(Reuters) -If President Donald Trump hoped that putting a close ally at the Federal Reserve would grab headlines, White House economic adviser Stephen Miran's dissent and way-below consensus interest rate projection on Wednesday delivered.
Vote against only Miran, chosen by Trump: he wanted a fall of half a point
'The economy's breaking': Economists warn Fed's new move meant to manage 'risk' of Trump
After the Federal Reserve announced a slight reduction in the interest rate, several prominent economists observed that the nation's central bank was making noticeable moves in direct response to President Donald Trump's management of the economy.Navy Federal chief economist Heather Long noted on Wednesday that the only dissenter against an interest rate cut was Stephen Miran, the Trump appointee who was confirmed by the Senate on a party-line v…
Trump Fed Appointee Dissents: Quarter-Point Rate Cut Not Enough
At today’s vote of the Federal Open Market Committee, eleven of the twelve members supported a quarter-point cut in the interest rate. The lone dissenter was Stephen Miran; he maintained that the cut should have been double that.
Interest rates are now between 4% and 4.25%. Appointed on Tuesday by the American president, Stephan Miran voted against, considering this reduction too timid
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