Fed's Miran says his preference for aggressive rate cuts not born of panic

NEW YORK, Sept 22 (Reuters) - Federal Reserve Governor Stephen Miran said Monday the central bank should cut interest rates aggressively to reduce risks to the economy's outlook.

While there’s a need to cut rates aggressively and the pace of easing does look like actions taken during crisis periods, when it comes to his desired interest-rate path, “I don’t see that as panicked,” Miran said at a gathering of the Economic Club of New York. “Policy is probably two points too restrictive, which is considerably restrictive,” he said, adding “even though I am expecting growth to be a little better in the future, that could get derailed unnecessarily” if rates don’t fall.