Squawk on the Street SOTS 2nd Hour: Fed Gov. Miran, Fed Chair Powell - LIVE 3/30/26
6 snips
Mar 30, 2026 
Richard Haas, seasoned foreign policy analyst, weighs in on Iran, Strait of Hormuz risks, and diplomatic pathways. Jerome Powell, Federal Reserve chair, speaks on monetary policy, Fed independence, and handling supply shocks. Stephen Myron, Fed governor and dissenting voter, discusses inflation, rate-cut views, and balance sheet strategy. Multiple lively conversations cover energy, financial stability, and central bank decisionmaking.
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AI As A Potential Deflationary Force
- Myron frames AI as a positive supply shock that lowers production costs and could offset temporary oil-driven price rises.
- He stresses monetary policy must be forward-looking, weighing which shocks are persistent versus transitory.
Large Fed Balance Sheet Distorts Markets
- Myron warns a large Fed balance sheet distorts market intermediation, blurs monetary-fiscal lines, and allocates credit unevenly.
- He supports shrinking the balance sheet but first reducing banks' demand for reserves to avoid market stress.
Private Credit Masks True Financial Conditions
- Myron says financial conditions have tightened unexpectedly, partly because private credit isn't captured in standard indices.
- He argues omitted private-credit signals masked earlier ease and now show weakness as conditions tighten.