Overview

• The Federal Reserve lowered rates by 0.25 percentage points to a 4.00–4.25% range, with Stephen Miran as the sole dissenter days after his Senate confirmation.
• Miran plans to lay out his interest‑rate view in New York on Monday and Jerome Powell speaks Tuesday, as officials weigh whether to consider another cut at the Oct. 28–29 meeting with limited new data in hand.
• Miran’s proposed ‘Acordo de Mar‑a‑Lago’ calls for higher tariffs, a weaker dollar, and exchanging existing U.S. debt for very long‑dated or perpetual bonds to reduce borrowing costs.
• Former multilateral officials and economists argue the package would require cooperation from major partners such as China and other creditors, casting doubt on any coordinated currency or debt deal.
• Analysts note recent U.S. inflation has picked up, tariff costs are falling on American consumers, and the U.S. share of global imports has dropped to roughly 12%, limiting prospects for quick trade‑balance gains.