New Trump appointee Miran calls for half-point cut in only dissent as rest of Fed bands together

Key Points

Federal Reserve Governor Stephen Miran dissented from the Fed’s decision to lower its key interest rate by a quarter percentage point on Wednesday.
Miran, the Trump appointee that the Senate confirmed to the Fed Board of Governors just a day before the two-day policy meeting kicked off, preferred a half-point cut.
The governor was the sole dissenter against the Fed’s decision.

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