Federal Reserve Governor Stephen Miran called for easing regulatory measures on U.S. companies and reiterated his that the Fed should cut interest rates by 150 bps by the end of the year.
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“I believe that the sweeping deregulation underway in the United States will significantly boost competition, productivity and potential growth, allowing faster economic growth without putting upward pressure on inflation,” Miran said on Wednesday in prepared remarks at the Delphi Economic Forum in Athens, Greece.
Deregulation Could Ease Inflation, Support Rate Cuts, Says Miran
Miran pointed to the economic recovery of Greece beginning in 2009 following the financial crisis, saying it was only possible after the country implemented deregulatory policies across several sectors.
He added that he expects shelter inflation, one of the main drivers behind overall inflation in the U.S., to wind down and that deregulation won’t contribute to higher inflation. Instead, it could lead to lower prices and allow the Fed to reduce rates.
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