Fed Governor Miran says he did not tell Trump how he would vote on rates this week

Core Points - Federal Reserve Governor Stephen Miran stated he made his interest rate decision independently and was not pressured by President Trump [1][2] - Miran voted against a quarter percentage point reduction, favoring a larger cut, and his projections for the fed funds rate were significantly lower than those of other Federal Open Market Committee members [2] - Concerns regarding the independence of the Federal Reserve have increased since Trump's second term began, with the president advocating for aggressive rate cuts [3] - Trump has attempted to remove Governor Lisa Cook and indicated he would evaluate Powell's replacement based on their willingness to ease monetary policy [4] - Miran dismissed concerns about potential conflicts of interest regarding his position, emphasizing his commitment to serve until January 2026 [4][5] - Miran is scheduled to speak at the Economic Club of New York, a significant platform for business and political leaders [6]