Federal Reserve Governor Stephen Miran has called for 150 bps of interest rate cuts this year in order to strengthen the labor market. He estimates that underlying inflation remains contained at 2.3%, which is “within noise” of the Fed’s target of 2%.
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“I’m looking for about a point and a half of cuts. A lot of that is driven by my view of inflation,” said Miran on Thursday in an interview with Bloomberg Television’s Surveillance. “There’s about a million Americans who don’t have jobs, who could have jobs without causing unwanted inflation,” he continued.
*This is a developing story. Stay tuned for additional updates*
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