Federal Reserve Governor Stephen Miran has explicitly stated that underlying inflation is not a concern, and he does not see many strong price pressures in the economy. He noted that the rise in long-term yields is partly due to improved growth expectations, rather than heightened inflation worries. Trump-appointed Governor Stephen Miran said on Tuesday that the Fed needs to cut interest rates by more than 100 basis points this year and expressed great anticipation for Kevin Warsh's performance as the next Fed Chair. Speaking on Fox Business Network, Miran clearly stated that the current level of interest rates is overly restrictive, underlying inflation is not a problem, and he does not see many strong price pressures in the economy. This assessment forms the basis for his argument in favor of significant rate cuts. He emphasized that better future economic growth does not necessitate higher interest rates. He pointed out that the increase in long-term yields is partly attributable to improved growth expectations, not an intensification of inflation concerns. Miran stated that he is very much looking forward to seeing Warsh's performance as Fed Chair. As previously mentioned, following Trump's nomination of former Fed Governor Kevin Warsh for the next Fed Chair, markets began betting on a more hawkish balance sheet policy. Miran has consistently demonstrated a dovish stance in Fed policy decisions. Last week, when the Fed decided to hold rates steady, he dissented, advocating for a 25 basis point cut. At the end of last year, when the Fed implemented a series of 25 basis point rate cuts, Miran also voted against the decision, but on that occasion, he supported a larger 50 basis point cut. Miran expressed disagreement with the interpretation of current inflation data. He stated: "When I look at underlying inflation, I really don't see many very strong price pressures in the economy. I don't see many strong supply-demand imbalances that require a monetary policy response." He believes the primary reason the Fed is keeping interest rates too high relates to technical flaws in the measurement of inflation, rather than the actual price pressures themselves. This viewpoint challenges the rationale behind the Fed's current policy stance and provides a basis for a more aggressive path of interest rate cuts.