Fed's Miran calls again for big rate cut

Nov 10 (Reuters) - The Federal Reserve should cut interest rates by a half of a percentage point in December given the softening labor market and falling inflation, Governor Stephen Miran said on Monday, with a quarter-point cut a "minimum" appropriate move in his view.

"We've got new inflation data which were better than expected, which would make one think that it would be reasonable to be incrementally more dovish than at the September FOMC" when the median policymaker felt three quarter-point rate cuts would be appropriate by year's end, Miran told CNBC.

The Fed cut the policy rate by a quarter point in both September and October, but the unemployment rate, he said, is drifting upward "because policy is too tight, and so it's imperative upon us to adjust the policy, to continue calibrating it downwards to prevent that restriction on the economy from bringing the unemployment rate even higher."