The post Bitcoin trades as Fed 11-1 vote fuels neutral rate debate appeared on BitcoinEthereumNews.com.

Miran’s dissent: neutral rate lower, so 50 basis point cut The Federal Open market Committee voted 11-1 to reduce the policy rate by 25 basis points, with Governor Stephen Miran dissenting in favor of a 50 basis point cut, as reported by CNBC (cnbc.com). The lone dissent underscores Miran’s view that the policy stance remains too restrictive relative to economic fundamentals. In a New York speech, as reported by Sandmark.com (sandmark.com), Miran argued structural forces have lowered the economy’s “neutral rate,” citing declining immigration, elevated tariff revenues, aging demographics, and slower population growth. He said the current policy rate sits roughly two percentage points too high and defended moving more quickly while remaining data-driven. What the 11-1 vote signals about Fed unity and path Fed Chair Jerome Powell emphasized committee cohesion and downplayed support for a larger move, as reported by Investing.com (investing.com). He said there was not broad backing among participants for a half‑point step. “There was not widespread support for a 50 bp cut,” Powell noted. In the same report, market commentary highlighted that Miran’s rate-path projections look more like signaling than likely policy outcomes, with Brian Jacobsen observing they stand out from the committee’s consensus. Analysts also pointed to unusual divergence in the dot plot, where Miran’s path appeared notably more dovish than peers. In post‑decision remarks carried by the outlet, Kevin Hassett characterized the 25 basis point move as measured and urged a cautious cadence. He called the reduction a “good first step” and advocated going “slow and steady.” The majority’s 25 basis point cut frames easing as calibrated rather than front‑loaded, while Miran’s dissent spotlights an internal debate about how restrictive policy still is. Together, they suggest the committee prefers gradualism even as one member argues for faster normalization. The divergence in the dot plot,…

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Filed under: News - @ March 18, 2026 6:24 pm