Fed’s Miran Says More Than Full Point of Cuts Needed in 2026 (1)

Federal Reserve Governor Stephen Miran said the US central bank will need to cut interest rates by more than a percentage point in 2026, arguing monetary policy is restraining the economy.

“I think it’s very difficult to argue that policy is about neutral. I think policy is clearly restrictive and holding the economy back,” Miran said Tuesday during an appearance on the Fox Business Network. “I think that well over 100 basis points of cuts are going to be justified this year.”

Fed officials cut interest rates last month for a third consecutive time, but signaled additional near-term reductions aren’t ...