Trump's Fed Ally Miran Still Sees Four Fed Rate Cuts — Markets See Zero

Federal Reserve Governor Stephen Miran — who has dissented in favor of rate cuts at every meeting since his appointment by President Donald Trump last year — said Monday that the Iran-driven oil shock does not alter his policy outlook, arguing the Fed should wait for clearer evidence before assessing the inflation impact of higher energy prices.
“I think that we shouldn’t be making policy based on short-term headlines,” Miran said Monday during a Bloomberg interview.
“It’s just still premature to have a clear view about what this is going to look like as you look 12 months out.”
Should The Fed Look Through An Oil Shock?
Since the start of the war in Iran, oil prices — as tracked by the United States Oil Fund (NYSE:USO) — have rallied nearly 40%, fueling fears of an upcoming inflationary