MNI BRIEF: Fed's Miran- Optimistic On Dollar's Global Standing

Federal Reserve Governor Stephen Miran said Wednesday concerns about a decline of the dollar's global role as a reserve currency are overdone.  

"I'm actually pretty optimistic on the international use of the dollar. There's been a lot more noise than actual movement on that subject. At the end of the day capital follows economic growth," he said during a Q&A in Greece. "The institutions of the United States are very strong. What happens at the end of the day is whether our policies are good or bad."

Miran repeated his view that the Fed should cut rates 150 basis points this year. "At current that's what my projection for appropriate economic policy is." (See MNI INTERVIEW: Fed's Miran Sees Substantial Rate Cuts In 2026)

He said the Justice Department's criminal probe into Fed Chair Jerome Powell did not present the risk of higher inflation. "Inflation is on the right trajectory. It's coming down. The mechanics of all the components are in the right place, and this other stuff is just noise."