Stephen Miran

Stephen Miran, a member of the Federal Reserve Board, advocates for more aggressive rate cuts, arguing that the current policy is too restrictive. He highlights the weakening labor market and changing demographic trends that are pushing down the neutral interest rate. Miran also discusses how imputed prices may inflate CPI readings and the impact of tariffs on national saving. He emphasizes the limited upside risk of inflation and the need for the Fed to reach neutrality quickly, all while maintaining the importance of central bank independence.

Mike Wilson, Chief Investment Officer at Morgan Stanley, discusses stock valuations and posits a rolling recovery ahead. Federal Reserve Governor Stephen Miran shares insights into Fed policy, warning of risks from private credit. Amanda Lynam from BlackRock highlights the tech sector's debt issuance trends and its effects on the credit market. Nancy Lazar, Chief Economist at Piper Sandler, offers alternative data perspectives, noting improvements in the labor market driven by manufacturing-led hiring and onshoring trends.

Stephen Miran, a member of the Federal Reserve Board of Governors, shares insights on the Fed's outlook for rate cuts and the implications for the U.S. economy. Chris Hyzy, Chief Investment Officer at Bank of America, discusses market reactions to economic and labor data, urging caution with investment portfolios. Ozan Tarman from Deutsche Bank provides a global markets outlook, touching on the interplay between AI, gold, and current risk dynamics. Together, they dissect the risks and opportunities shaping the financial landscape.

Federal Reserve Governor Stephen Miran shares insights into recent monetary decisions, advocating for a 50 basis point rate cut to move towards a neutral policy stance. He discusses the complexities of financial market signals influenced by factors like AI. Miran highlights that tighter conditions in housing and private credit may not reflect equity market optimism. He also emphasizes the challenge of government shutdowns on data reliability, underlining potential risks from private credit distress.

Stephen Miran, a Fed Governor with insights into monetary policy, discusses the urgency of moving policy to a neutral rate more quickly. He explains why current conditions warrant faster rate cuts compared to previous years, and how shifts in the neutral rate influence decisions. The podcast also covers Treasury Secretary Scott Bessent's sharp critique of China's trade strategies, while exploring a significant $40 billion AI data center deal among major players like Blackrock and NVIDIA, showcasing the rapid evolution in enterprise AI adoption.