Fed governor advocates for a 0.5% rate cut, economic concerns raised: Will central banks and Wall Street be convinced?

Stephen Miran, appointed by former President Trump, has suggested a 0.5% reduction in interest rates. He argues that the economic conditions necessitate such a change, diverging from the Fed’s recent decision to lower rates by only 0.25%.

Miran’s arguments have attracted criticism from leading economists, including Larry Summers, who described his analysis as weak. Some Fed members appointed by Trump do not support his position, indicating a lack of consensus on the rate cut.