Federal Reserve Governor Stephen Miran has openly stated his support for a 0.5 percentage point interest rate cut later this month, citing unresolved trade tensions and growing economic headwinds as key reasons. Miran pointed out that the current policy stance remains overly restrictive, which makes the economy more vulnerable to unexpected shocks.

He argues that ongoing trade disputes—especially with China—and tariff uncertainty add to market unpredictability and put US growth at greater risk. According to Miran, moving quickly to a more neutral rate is crucial instead of waiting for negative economic data to emerge.

While most Fed policymakers are advocating slower rate adjustments, Miran stands out for his urgency. He explained that factors pushing up the neutral rate last year, such as increased immigration and fiscal deficits, have diminished, requiring an updated monetary approach to ensure price stability and maximum employment.

His remarks arrive as investors grow more confident about the likelihood of additional rate cuts before year-end. The upcoming FOMC meeting has become the market’s primary focus, with Miran’s stance potentially influencing a tilt toward more aggressive monetary easing.