Fed’s Miran: Think we will adjust policy rate down
Federal Reserve (Fed) Member of the Board of Governors Stephen Miran said that the last few months have seen data consistent with his view of the world and that he doesn’t see a recession in the near term. He declared in an interview for Bloomberg TV on Monday.
Key Quotes
There were some anomalies in last week's inflation data from government shutdown.
Last few months we've had data in accord with my view of the world.
I don't see a recession in the near term.
If we don't adjust policy down we do face rising risk of a recession.
Think we ultimately will adjust policy rate down.
Tax refunds next year will provide a bit of stimulus.
Need for me to dissent for 50 basis points diminishes over time as we cut rates.
If no one is confirmed in my seat by January 31, I assume I will stay in my seat.
You have to give Powell credit for wrangling 3 rate cuts out of the FOMC.”
Source : Fxstreet.com
