Fed's Miran Again Calls on Fed to Cut Interest Rate Target

March 25 (Reuters) - Federal Reserve Governor Stephen Miran said Wednesday monetary policy is holding the economy back right now and that’s not where central bank interest rates should be.

The 3.5% to 3.75% federal funds rate now in place is about a percentage point too high and is “modestly restrictive and it is holding the economy back, and I don’t think that’s consistent with the macroeconomic backdrop,” Miran said at the 2026 Digital Asset Summit in New York.

He also said he’s not seeing any evidence the current energy price shock is driving up inflation expectations, which gives him confidence actual price pressures won’t rise.