Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
The Federal Reserve cut the federal funds rate by 25bps during its September 2025 meeting, bringing it to the 4.00%–4.25% range, in line with expectations. It is the first reduction in borrowing costs since December. Newly appointed Governor Stephen Miran stood alone in voting against the quarter-point move, favoring a half-point cut instead. Policymakers noted that recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat...
The United States (US) Federal Reserve (Fed) will announce monetary policy decisions and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, following the September policy meeting on Wednesday. Market participants widely anticipate the US central bank to cut the policy rate for the first time since last December, lowering it to the range of 4%-4.25%. The CME FedWatch Tool shows that investors see only about a 6% chance of a bigger rate cut, while pricing in about an 80% probability of a total of 75-basis-point (bps) reduction for the remainder of the year....
The Fed is widely expected to slash interest rates at the conclusion of its latest two-day policy gathering, although the size of the possible drawdown and commentary around the move remain a source of debate. Markets are all but certain the central bank will cut borrowing costs by at least 25 basis points from the current target range of 4.25% to 4.5%, while there is also a slim chance of a deeper, half-percentage point reduction. Underpinning these estimates have been signs of a weakening U.S. labor market, which are seen overshadowing simultaneous indications of sticky inflation. In...
Bank Indonesia unexpectedly cut its benchmark interest rate by 25 bps to 4.75% at its September 2025 policy meeting, marking the third consecutive monthly rate cut and defying market expectations to hold rates steady at 5.0%. This is the sixth rate reduction since last September, bringing the benchmark rate to its lowest level since October 2022. The decision reflects projections that inflation for 2025–2026 will remain within the central bank's target range of 2.5% ± 1%, a stable Rupiah exchange rate, and ongoing efforts to support economic growth. Recent data showed that GDP grew by 5.12%...
U.S. President Donald Trump's nomination to the Federal Reserve Board of Governors, economist Stephen Miran, was approved by the Senate in a narrow vote on Monday evening. Miran's appointment to the Fed board was approved in a 48-47 vote, with the confirmation now allowing him to participate in the Fed's September 16-17 meeting. Miran was nominated by Trump to fill a seat abruptly vacated by former Fed governor Adriana Kugler, with his term set to expire in January 2026, when the seat's original term ends. Miran currently serves as the Chair of the Council of Economic Advisers (CEA), and...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...