By Jessica Coacci
Federal Reserve governor Stephen Miran said he thinks the Fed needs to cut interest rates by about a percentage point this year in a Fox Business interview Thursday.
“Four cuts I think are appropriate,” he said. “I’d rather get them sooner than later,” he added.
With regard to private credit, Miran said he hasn’t seen anything yet that would make him worried from a macroeconomic perspective. He added a lot of the growth in private credit ties back to overregulation in banks.
When discussing the future impact of artificial intelligence on jobs, Miran said “I do fully expect AI will destroy some jobs, but I also expect it will create entirely new categories of jobs we can’t think of yet.”
Write to Jessica Coacci at jessica.coacci@wsj.com
(END) Dow Jones Newswires
02-26-26 0944ET