Federal Reserve Governor Stephen Miran told CNBC on Friday that he spoke only briefly to President Trump before this week’s interest rate decision and was not pressured on how to vote.
Miran, who voted against the quarter percentage point reduction in favor of a move twice that size, said he made his decision independently.
“He called me Tuesday morning to congratulate me, and that was it,” the central banker said during a “Squawk on the Street” interview. “I did not talk to him about how I vote. I did not talk to him about about my dots in the [Summary] of Economic Projections.”
Not only did Miran vote against the quarter-point move but also his “dot” for where he sees the fed funds rate at the end of this year was well below the rest of the 19 participants at the Federal Open Market Committee meeting. He also views rates being lower than most of the other officials.
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