Fed's Miran says underlying inflation is not a problem; needs to cut rates by about a percentage point this year - Fox News interview

• Better growth in future doesn't need higher interest rates.
• Sees need to lower rates by 50bps this year.
• Not reading a lot into metal market volatility.
• In the long-term would want a smaller Fed balance sheet.
• To get smaller balance sheet, need more regulations changes.
• Fed monpol is too tight.

Miran's comments suggest a shift towards a more dovish stance from the Fed, advocating for a 50 basis point rate cut this year. This indicates a belief that current inflation pressures are less concerning and that a looser monetary policy could support growth without overheating the economy. Such a position could influence market expectations around future rate cuts, impacting the USD and fixed income sectors significantly.