Stephen Miran, recently confirmed as a member of the Federal Reserve Board, is making headlines with his strong advocacy for reducing interest rates significantly. In his inaugural speech, he argued that current rates are too high and could jeopardize employment levels, calling for a reduction to approximately 2.5 percent. Miran, who has been appointed by Trump, emphasizes that the ongoing tight monetary policy poses risks of unnecessary layoffs and increased unemployment. He has consistently echoed the need for dramatic cuts, aiming to align rates with a neutral level that he believes is falling. Despite some pushback from other Fed members, Miran remains firm in his position, asserting that the refusal to lower rates could threaten jobs in the U.S. economy.