{"id":174276,"date":"2025-09-22T16:09:08","date_gmt":"2025-09-22T16:09:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/174276\/"},"modified":"2025-09-22T16:09:08","modified_gmt":"2025-09-22T16:09:08","slug":"the-fed-has-a-lot-of-catching-up-to-do-says-new-central-banker-stephen-miran","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/174276\/","title":{"rendered":"The Fed has a lot of catching up to do, says new central banker Stephen Miran"},"content":{"rendered":"<p>                Facebook<\/p>\n<p>                Tweet<\/p>\n<p>        <a class=\"social-share_labelled-list__share\" href=\"mailto:?subject=CNN%20content%20share&amp;body=Check%20out%20this%20article%3A%0Ahttps%3A%2F%2Fwww.cnn.com%2F2025%2F09%2F22%2Feconomy%2Ffed-stephen-miran-first-public-speech\" data-type=\"email\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"share with email\" title=\"Share with email\"><\/p>\n<p>                Email<br \/>\n        <\/a><\/p>\n<p>                Link<\/p>\n<p>      Washington<br \/>\n        \u00a0\u2014\u00a0<\/p>\n<p class=\"paragraph-elevate inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cmfvaltiu00a82dny4t239d6v@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Central bankers are underestimating how much pressure interest rates are putting on America\u2019s labor market, said Federal Reserve Governor Stephen Miran, a staunch ally of President Donald Trump, in prepared remarks Monday.\n    <\/p>\n<p class=\"paragraph-elevate inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cmfvalx3g00003b6nimgkejxy@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cI view policy as very restrictive, (and) believe it poses material risks to the Fed\u2019s<br \/>employment mandate,\u201d Miran is set to say during his first speech in his new role, at an event in New York. Miran was previously head of Trump\u2019s Council of Economic Advisers, but has taken leave from that position to serve a vacated term on the Fed\u2019s Board.\n    <\/p>\n<p class=\"paragraph-elevate inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cmfvaxeqi000e3b6n6ymzdetr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The Fed last week lowered borrowing costs <a href=\"https:\/\/www.cnn.com\/2025\/09\/17\/economy\/september-fed-meeting-final\" rel=\"nofollow noopener\" target=\"_blank\">for the first time since December<\/a> to prevent the labor market from deteriorating, according to Chair Jerome Powell in a post-meeting news conference. But Miran says the Fed has a lot of catching up to do.\n    <\/p>\n<p class=\"paragraph-elevate inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cmfvaub6600093b6na2g0ffr1@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            In his speech, Miran argues that the neutral rate of interest \u2014 a theoretical level of borrowing costs that neither stimulates or nor dampens activity \u2014 is actually lower than the consensus of economists suggests, meaning that interest rates are exerting too much pressure on the economy.\n    <\/p>\n<p class=\"paragraph-elevate inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cmfvayj6i000h3b6n19pyax7b@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            This story is developing and will be updated.\n    <\/p>\n","protected":false},"excerpt":{"rendered":"Facebook Tweet Email Link Washington \u00a0\u2014\u00a0 Central bankers are underestimating how much pressure interest rates are putting on&hellip;\n","protected":false},"author":2,"featured_media":174277,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,112],"class_list":["post-174276","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/174276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=174276"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/174276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/174277"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=174276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=174276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=174276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}