Trump’s Fed pick doubles down on calls to aggressively cut interest rates

Stephen Miran says rates should be below 3% by end of year and dismisses fears of US president's tariffs stoking inflation

Stephen Miran, Donald Trump's new appointee on the Federal Reserve's interest-rate-setting board, has doubled down on his calls for the central bank to more aggressively cut interest rates.

Last week, the Fed cut interest rates by a quarter point, bringing rates down to a range of 4% to 4.25% - the lowest it's been since early 2023. Out of 12 voting board members, Miran was the only one to vote against the crowd. He wanted a half-point cut, not a quarter-point cut.