(Reuters) -Federal Reserve Governor Stephen Miran tied on Tuesday a deteriorating job market to the current state of central bank interest rate policy. “We have to recognize that the unemployment rate has been drifting higher, and that is a function of monetary policy being too tight,” Miran said in an interview on Fox Business. “My […]
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Fed’s Miran ties rising unemployment to current setting of monetary policy – Fox Business
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(Reuters) -Federal Reserve Governor Stephen Miran tied on Tuesday a deteriorating job market to the current state of central bank interest rate policy.
“We have to recognize that the unemployment rate has been drifting higher, and that is a function of monetary policy being too tight,” Miran said in an interview on Fox Business.
“My concern is that if we don’t continue cutting rates and do so at a reasonably quick pace” the jobless rate will continue to rise, the policymaker said in the interview.
(Reporting by Michael S. Derby; Editing by Andrew Heavens)