Federal Reserve Governor Milan: More than 100 basis points of rate cuts are needed this year; looking forward to Walsh’s upcoming performance.

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Stephen Miran, a governor nominated by Trump, said on Tuesday that the Federal Reserve needs to cut rates by more than 100 basis points this year and he is very much looking forward to Kevin Warsh's performance after becoming Fed Chair.

In his speech, Miran made it clear that underlying inflation is not a problem, and there is not much strong price pressure seen in the economy. This assessment forms the basis for his advocacy of substantial rate cuts.

He emphasized that better future economic growth does not require higher interest rates. He pointed out that part of the reason for the rise in long-term yields is improved growth expectations rather than heightened concern about inflation.

Miran stated that he is very much looking forward to Kevin Warsh's performance after becoming Fed Chair. WallstreetCN previously mentioned that Trump has nominated former Fed governor Kevin Warsh as the next Federal Reserve Chair, with markets immediately betting on a more hawkish balance sheet policy.

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