In a podcast interview, newest Fed Governor (Trump appointee and dove)Miran says:
I expect we will cut in December
I want to get to neutral in 50 basis-point increments; a lot of my colleagues want 25 bps increments
Don’t need 75 basis point cut, don’t need to make up for lost ground on cuts
Labor market deterioration is gradual, not accelerating.
We have the extremes with Hammock driving the hawkish views and Miran driving the dovish views.
Stocks are off lows but still down sharply on the day.
