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Analyst: Stephen Miran's Joining the Fed Will Increase Pressure on Powell to Cut Rates
Summary: According to sources, Jay Hatfield, CEO of New York Infrastructure Capital Management, pointed out that it is somewhat unusual for Stephen Miran to serve as an interim director of the Federal Reserve, given his past controversial statements, such as advocating for forced purchases of government bonds, when he was chairman of the President's Economic Advisory ...
According to sources, Jay Hatfield, CEO of New York Infrastructure Capital Management, pointed out that it is somewhat unusual for Stephen Miran to serve as an interim director of the Federal Reserve, given his past controversial statements, such as advocating for forced purchases of government bonds, when he was chairman of the President's Economic Advisory Committee. However, Hatfield believes this will not affect Miran's duties as a Fed director. The position is not ideal, and serving as a short-term director is not a particularly attractive opportunity. This decision is quite practical, as it is difficult to recruit individuals from the private sector for such a short term. While the focus remains on the nomination of the Fed chair, Stephen Miran's addition will put more pressure on Powell to cut rates.
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Link: Analyst: Stephen Miran's Joining the Fed Will Increase Pressure on Powell to Cut Rates [Copy]
