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46:06Now PlayingFederal Reserve Governor Stephen Miran speaks at the Economic Club of New York. He said interest rates are too high and made a case for lowering them aggressively in the coming months to protect the labor market.
In his first policy speech since being appointed to the central bank by President Donald Trump, Miran laid out a case for why the neutral rate of interest — where the policy rate neither stimulates nor weighs on the economy — has fallen.
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