Fed Risks Recession Without More Interest Rate Cuts, Miran Says [Yahoo! Finance]
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Source: Yahoo! Finance
“If we don't adjust policy down, then I think that we do run risks,” Miran said during an interview with Bloomberg TV on Monday. Miran added he doesn't foresee an economic downturn in the near term, though rising unemployment should push Fed officials to continue cutting rates. Most Read from Bloomberg With Mamdani, the Humble Bus Gets Its Due ICE Plans Detention Expansion With Deal to Design 'Mega Centers' New York's Congestion Pricing Is Working. Five Charts Show How NYC High Line-Area Building Floats $53 Million Bankruptcy Sale NYC's Adams Challenges Mamdani Rent Freeze With Board Picks “The unemployment rate has poked up potentially above where people thought it was going to go. And so we've had data that should push people into a dovish direction,” he said. Miran, whose term at the Fed ends in January, has argued for larger cuts since he joined the Board of Governors in September. After policymakers cut rates three times by a total of 75 basis points since Sept
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