Fed's Miran says renewed U.S.-China trade tensions pose new risk to growth outlook - CNBC

WASHINGTON, Oct 15 (Reuters) - The renewed trade tensions between the U.S. and China pose new downside risks to the economic outlook, giving more urgency to the Federal Reserve's need to cut its benchmark interest rate, Federal Reserve Governor Stephen Miran said on Wednesday.

"We have to recognize that there is some difference now versus where we thought things were a week ago," before China announced new restrictions on the export of rare earth minerals critical to high-end manufacturing, Miran said at the CNBC Invest in America Forum.

"There's now more downside risk than there was a week ago, and it is incumbent upon us as policymakers to recognize that should get reflected in policy...It becomes even more urgent that we get to a more neutral place in policy quickly."