Fed Risks Recession Without More Interest Rate Cuts, Miran Says

Federal Reserve Governor Stephen Miran said the US central bank risks sparking a recession unless it continues lowering interest rates next year.

“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.

“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 ...