"The communications out of the Federal Reserve on Wednesday show the present and potential future of American monetary policy in vivid contrast. The big picture: Current leaders of the central bank view the U.S. economy as in basically sound shape, experiencing some labor market softness that is nothing a few modest interest rate cuts can't solve. They emphasize sober consensus-building and moving gradually and predictably."
"Barely two days into his time as a Fed governor, Trump appointee Stephen Miran wants a substantial resetting of rates lower. His past comments and writings also suggest an eagerness for much more sweeping change in the institution. As the president installs other appointees at the Fed - including a new chair eight months from now - it is an early glimpse of major change coming to the institution with which Wall Street has a long love/hate relationship."
Federal Reserve communications show contrasting approaches to U.S. monetary policy and its future direction. Current Fed leaders assess the economy as basically sound with some labor-market softness that modest interest-rate cuts can address. The policy committee delivered a widely telegraphed quarter-point rate cut and most policymakers forecast additional cuts later in the year. New Trump appointee Stephen Miran immediately dissented, advocating a half-point cut and projecting rates falling to about 2.9% by year-end, signaling support for more aggressive easing and potential wholesale reform of Fed operations. Miran’s confirmation and other appointments foreshadow significant institutional changes ahead.
Read at Axios
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