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Fed Official Calls for Four Interest Rate Cuts Despite January Job Growth

Friday, February 27, 2026 at 1:00 AM

Federal Reserve Governor Stephen Miran believes the central bank should reduce interest rates by a full percentage point this year through four quarter-point cuts. Despite positive January employment numbers, Miran argues the job market still needs additional Federal Reserve support.

WASHINGTON – A Federal Reserve official is advocating for significant interest rate reductions this year, even after January showed encouraging employment gains.

Federal Reserve Governor Stephen Miran described January’s robust job creation as “a really good thing” during an appearance on Fox Business’s “Mornings with Maria” on February 26. However, he maintains the central bank should implement four quarter-point interest rate reductions throughout the year, totaling a full percentage point decrease from current policy rates.

Miran emphasized that employment concerns persist despite recent positive data. “I think it’s way too early to sort of sound an all clear that the labor market doesn’t need more support from the Federal Reserve. I definitely think the labor market can be supported by the Federal Reserve further,” he stated, advocating for the four cuts.

The Fed governor also downplayed current inflation concerns, stating “I really do not think that we have an inflation problem.” He noted that while recent inflation measurements remain about one percentage point higher than the Federal Reserve’s target, he expects this trend to decelerate.

Miran’s position suggests continued monetary policy support is necessary to maintain economic stability, balancing employment support against inflation management.

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