🧨 Trump urges 'global lowest interest rates' again! Milan highlights: sufficient reasons for interest rate cuts, supply reform
🔥 Non-farm payrolls exceed expectations, interest rate cut expectations cool, but policy battles heat up! Trump praises January employment data as 'far exceeding expectations', once again loudly calls for the Federal Reserve to lower interest rates to 'the global lowest level', stating that this move will save over a trillion dollars in interest payments annually, ushering in the 'American golden age'. However, the reality is far more complex than slogans — the path to rate cuts is not over, but the pace is changing‼️
🎯 Key figure speaks out: Federal Reserve Governor Milan supports interest rate cuts
As the market grapples with disagreements on the timing of interest rate cuts, Board Member Stephen Miran clearly stated: despite strong employment data, the reasons for a rate cut remain substantial. He pointed out that supply-side reforms—including easing business regulations and slowing housing inflation—are providing space for monetary policy, making it still necessary for interest rates to 'go lower'.
💡 'Policies should align with the release of supply potential'
Miran emphasized that the current economic logic has changed: strong employment and loose monetary policy can coexist. In an interview with Fox Business, he stated: 'I am optimistic about the outlook, but monetary policy can still play a complementary role.' Since taking office last September, he has voted against at every meeting, advocating for more aggressive rate cuts with a clear stance.
🧩 Political chessboard turbulence: Walsh's nomination remains undecided
Miran's term expired on January 31, and his seat has become the only viable path for Trump's nominee Kevin Walsh to take over as Federal Reserve Chair. Unless Powell resigns from his Board position, Walsh cannot ascend. Miran admitted: 'I am willing to stay on, but the decision is not mine.' The personnel changes combined with policy disagreements make the future direction of the Federal Reserve highly uncertain.
📉 Market response reflects reality: June rate cut probability falls below 50%
Although Miran has released 'dovish' signals, traders have already lowered their expectations. January non-farm payrolls increased by 130,000, and the unemployment rate fell to 4.3%, alleviating previous concerns about the deterioration of the labor market, giving the Federal Reserve the confidence to 'stay put'. The window for rate cuts is being pushed later from June.
📌 Key highlights:
- ✅ Miran is currently the only Federal Reserve official continuously advocating for significant interest rate cuts.
- ✅ Supply-side improvement has become a new logic for interest rate cuts, breaking the inertia of the thinking that 'strong data = no rate cuts'
- ✅ Politics and policies intertwine; whether Walsh can ascend will determine the future tone of the Federal Reserve#非农意外强劲
🔔 Conclusion: Rate cuts have not stopped, but the path is more winding. Amidst economic resilience, political intentions, and residual inflation, the Federal Reserve is walking a tightrope. Is Miran's voice a solitary courage or a prelude to change? Keep an eye on the next CPI and Federal Reserve meeting, and the answer will gradually become clear.
