Federal Reserve Governor Stephen Miran reiterated his stance on lowering interest rates, arguing that a strong jobs report for January doesn’t weaken the case for easing monetary policy while inflation remains under control.
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Inflation Slows Ahead of March FOMC Meeting
Miran’s statement was put to the test when the Bureau of Labor Statistics (BLS) published January’s Consumer Price Index (CPI) this morning, showing inflation rising by 2.4% annually. That marked the lowest rate of growth since May 2025. In addition, core CPI, which excludes volatile food and energy prices, increased by 2.5% from the prior year, registering its lowest level since March 2021.
Miran has voted in favor of rate cuts in every Federal Open Market Committee (FOMC) meeting since he joined the board in September. The next meeting is scheduled for March 18.