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Fed’s Miran Says He Raised Rate Projection Due to Inflation Data

March 25, 2026, 8:51 PM UTC
Jonnelle Marte
Jonnelle Marte

Federal Reserve Governor Stephen Miran said he moved up his projection for where interest rates should end the year by half a percentage point in response to disappointing inflation data since officials last issued forecasts in December.

“I boosted my policy rate by half a percent, not due to oil and Iran, but due to the inflation data that we received,” Miran said Wednesday during an event in New York, referring to the economic projections policymakers published after their policy meeting last week. “That puts my my projection at about neutral.”

WATCH: Federal Reserve Governor Stephen Miran says he doesn’t think Fed policy needs to be “slamming on the gas” to accelerate the economy but also doesn’t need to be holding the economy back. Source: Bloomberg

Miran voted against the Fed’s ...

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