New Federal Reserve Governor Stephen Miran warns that the Fed’s policy is too tight, risking job losses without rate cuts. Miran believes recent economic changes warrant a 2% cut, differing from his colleagues. Fed officials project two more rate cuts this year. Miran dismisses concerns over tariff-based inflation.

Colleagues like St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic believe policy should be cautious to combat inflation. Cleveland Fed President Beth Hammack argues that policy is not too restrictive. Miran faces challenges in convincing colleagues during his term. Fed officials remain cautious about inflation despite consumer spending boosts.

Read more at Yahoo Finance: Miran defends low-rate view as colleagues caution on further cuts