The post Donald Trump’s Fed Member Speaks Out on Rate Cuts! “There’s Urgency!” appeared on BitcoinEthereumNews.com. Stephen Miran, known for his closeness to US President Donald Trump and nominated for the Fed board, was confirmed by the Senate just a few days before the critical Fed interest rate decision. Miran was recommended by Trump to replace Adriana Kugler, who left the Fed abruptly in August, on the board. While it was stated that Trump’s hand was strengthened with Miran’s joining the FED, Miran began to press for a 50 basis point reduction. Miran, who argued that a 50 basis point cut was necessary against the FED’s 25 basis point cut decision last week, said that if the FED did not reduce interest rates quickly, it faced the risk of harming the economy. Speaking to Bloomberg, Stephen Miran said that the necessary precautions should be taken now against the risk of economic collapse and interest rates should be reduced quickly. “I don’t think the economy will collapse anytime soon. But considering the risks, I would prefer to act preemptively and lower interest rates early rather than wait until a major disaster occurs.” 50 Basis Point Discount Series is a Must! Miran argued that the Fed’s current policy rate, which is held between 4% and 4.25%, is quite restrictive. He argues that current interest rates are well above the “neutral” level expected, where the policy neither stimulates nor constrains the economy. At this point, Miran argued that authorities could quickly implement several large rate cuts to reach neutral, rather than moving slowly throughout the year. “The neutral interest rate is gradually falling. Therefore, monetary policy needs to be adjusted to the neutral interest rate. My view is that by starting there with a very short series of 50 basis point cuts, we can reset monetary policy and then move more cautiously once we get there.” Many members, including… The post Donald Trump’s Fed Member Speaks Out on Rate Cuts! “There’s Urgency!” appeared on BitcoinEthereumNews.com. Stephen Miran, known for his closeness to US President Donald Trump and nominated for the Fed board, was confirmed by the Senate just a few days before the critical Fed interest rate decision. Miran was recommended by Trump to replace Adriana Kugler, who left the Fed abruptly in August, on the board. While it was stated that Trump’s hand was strengthened with Miran’s joining the FED, Miran began to press for a 50 basis point reduction. Miran, who argued that a 50 basis point cut was necessary against the FED’s 25 basis point cut decision last week, said that if the FED did not reduce interest rates quickly, it faced the risk of harming the economy. Speaking to Bloomberg, Stephen Miran said that the necessary precautions should be taken now against the risk of economic collapse and interest rates should be reduced quickly. “I don’t think the economy will collapse anytime soon. But considering the risks, I would prefer to act preemptively and lower interest rates early rather than wait until a major disaster occurs.” 50 Basis Point Discount Series is a Must! Miran argued that the Fed’s current policy rate, which is held between 4% and 4.25%, is quite restrictive. He argues that current interest rates are well above the “neutral” level expected, where the policy neither stimulates nor constrains the economy. At this point, Miran argued that authorities could quickly implement several large rate cuts to reach neutral, rather than moving slowly throughout the year. “The neutral interest rate is gradually falling. Therefore, monetary policy needs to be adjusted to the neutral interest rate. My view is that by starting there with a very short series of 50 basis point cuts, we can reset monetary policy and then move more cautiously once we get there.” Many members, including…