MNI BRIEF: Fed's Miran-Deregulation Calls For Even Lower Rates

A push for looser regulations for U.S. businesses is raising potential growth in way that should allow the Federal Reserve to cut rates more aggressively, Fed Governor Stephen Miran said Wednesday.

"I believe that the sweeping deregulation underway in the United States will significantly boost competition, productivity, and potential growth, allowing faster economic growth without putting upward pressure on inflation. This would support
continued easing of restrictive monetary policy, but ignoring these effects would result in monetary policy that is needlessly contractionary," he said in prepared remarks to a conference in Greece. 

"In recent quarters, policy has been tighter than it should have been to reflect significant deregulation lifting potential growth and
reducing inflation. Going forward, I expect that the ambitious deregulation underway in the United States will boost growth without boosting inflation and be one factor supporting a further easing of monetary policy." (See MNI INTERVIEW: Fed's Miran Sees Substantial Rate Cuts In 2026)

Miran, who is on temporary leave from President Donald Trump's Council of Economic Advisers, has dissented in all of his three meetings as Fed governor, calling for 50-basis point rate cuts rather than the series of quarter point reductions delivered late last year by the FOMC.