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.

In this discussion, Stephen Miran, a Federal Reserve Governor, advocates for substantial rate cuts in 2026, citing shelter inflation and labor market conditions. Seema Shah, Chief Global Strategist at Principal Asset Management, shares concerns over interventionist policies and their effects on investor sentiment and fiscal stability. Jim Zelter, President of Apollo Global Management, discusses the cautious yet disciplined investment approach amidst geopolitical tensions and record debt issuance, highlighting opportunities in Europe and Japan.

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 Federal Reserve Governor and economist advocating for rate cuts, shares his insights on the potential recession risks tied to interest rates. He addresses the influence of government shutdowns on inflation data and argues for dovish policy shifts amid cooler inflation trends. Miran emphasizes the importance of dissenting opinions at the Fed to foster diverse discussions. He also critiques the common belief regarding tariffs driving inflation and evaluates potential candidates for future Fed leadership.

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.

Stephen Miran, Federal Reserve Governor and former Treasury official, shares his insights on monetary policy and inflation. He forecasts a need for 150 basis points in rate cuts by 2026 to boost the labor market. Miran highlights that current inflation numbers are skewed by shelter costs and discusses the importance of accommodative policies on job growth. He also addresses potential risks, such as rising market rents affecting his projections and expresses uncertainty about his future at the Fed.

Stephen Miran, a Federal Reserve Governor, delves into the intricacies of monetary policy, critiquing the Fed's slow response to cooling inflation and discussing the need for timely rate cuts. Marvin Loh, a Senior Strategist at State Street, analyzes market catalysts and the emerging AI investment cycle, noting the risks of rising global yields. Meanwhile, Patrick McHenry, former Chair of the House Financial Services Committee, explores U.S. policy towards Venezuela and the broader Latin American strategy, emphasizing the importance of effective communication on economic policies.

Stephen Miran, a Federal Reserve Governor known for his insights into monetary policy, discusses the current inflation landscape. He emphasizes how a sudden rise in housing costs could shift his inflation outlook. Miran challenges the notion that the neutral rate is zero, detailing how it's evolved this year. He underscores the importance of high-quality data, the impact of consumer prices versus shelter, and the Fed's 2% target amidst varying economic conditions, offering a refreshing perspective on fiscal strategies and policy adjustments.