off-the-wire

Fed's Miran: Four quarter-point cuts still warranted this year, no "all clear" for job market

Kitco Media
By Reuters
Published:
Updated:
Reuters
Fed's Miran: Four quarter-point cuts still warranted this year, no "all clear" for job market teaser image

WASHINGTON, Feb 26 (Reuters) - Federal Reserve Governor Stephen Miran said strong job growth in January was "a really good thing," but that the Fed should still cut a full percentage point from its policy rate this year because there were still risks to the labor market while inflation was no longer a problem.

"I think it's way too early to sort of sound an all clear that the labor market doesn't need more support from the Federal Reserve. I definitely think the labor market can be supported by the Federal Reserve further," with four cuts this year, Miran said on Fox Business's "Mornings with Maria".

"I really do not think that we have an inflation problem," with recent inflation readings a percentage point above the Fed's target likely to slow.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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