Fed's Miran signals two more rate cuts this year and disinflationary process🗽

Chosen by the Donald Trump, Fed member Stephen Miran signals additional rate cuts needed, opening the path for at least 2 rate cuts this year. At the same moment US Secretary Bessnet signalled the possibility of longer China tariff truce. Here is the breakdown from Fed's Miran remarks.

Fed Miran

• Two more cuts this year sounds realistic. The labour market has clearly weakened.
• There is now more downside risk than a week ago 
• There is difficulty in knowing the neutral rate exactly.
• It's even more urgent to get to neutral rate quickly now.
• The difference in my view and the rest of the FOMC is on the speed of the trip to neutral.
• The Fed has to think about the introduction of a new tail risk.
• US-China tension potentially important for outlook.
• With the change in the balance of risk more urgent to get to a more neutral policy
• I see substantial disinflation coming a year from now; also from housing market in coming months.

Source: xStation5

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