Fed Governor Milan warns: Trade uncertainty intensifies, urgency for rate cuts increases

Federal Reserve Board Governor Stephen Miran said recent trade tensions have heightened uncertainty about the economic growth outlook, making it even more important for policymakers to accelerate the pace of rate cuts. "Downside risks are more pronounced today than they were a week ago, and I think it's important for policymakers to recognize that and reflect that in their policies," Miran said at a CNBC event on Wednesday. "The heightened uncertainty surrounding trade policy has created new tail risks. It's not that I expect lower rates now than I did a week or a month ago, but as the balance of risks shifts, I think it's even more urgent to get policy to a more neutral stance as quickly as possible."