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Investing.com -- Federal Reserve Governor Stephen Miran said Wednesday that two more interest rate cuts this year "sounds realistic" as he sees substantial disinflation on the horizon.
Speaking at a CNBC event, Miran emphasized that it’s now "even more urgent to get to neutral rate quickly" given increased downside risks compared to a week ago.
The Fed governor noted that U.S.-China tensions are potentially important for the economic outlook, adding that the central bank "has to think about introduction of a new tail risk."
Looking ahead, Miran projected substantial disinflation coming a year from now, with inflation returning to the Fed’s 2% target approximately a year and a half from now.
Miran also stressed the importance of the Federal Reserve maintaining its nonpolitical stance to preserve its independence, stating that "Fed independence is of critical importance."
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