Fed’s Miran Says He’d Favor Half-Point Rate Cut in December

Federal Reserve Governor Stephen Miran said better-than-expected inflation data and signs of continued weakness in the job market call for a third consecutive interest-rate cut in December.

In the absence of new economic information due to the government shutdown, a half-point cut next month is still “appropriate,” Miran said Monday during an interview with CNBC. “At a minimum,” he added, the central bank should lower rates by an additional quarter percentage point.

Stephen Miran

Photographer: Victor J. Blue/Bloomberg

“We’ve got new inflation data which were better than expected, which would make one think that it would be reasonable to be incrementally more dovish” than in ...