January 30, 2026
WHEN: Today, Friday, January 30, 2026
WHERE: CNBC’s “Money Movers”
Following are excerpts from the unofficial transcript of a CNBC interview with Fed Governor Stephen Miran on CNBC’s “Money Movers” (M-F, 11AM-12PM ET) today, Friday, January 30. Following is a link to video on CNBC.com: https://www.cnbc.com/video/2026/01/30/kevin-warsh-is-a-fantastic-pick-and-an-innovative-thinker-says-fed-governor-stephen-miran.html.
All references must be sourced to CNBC.
MIRAN ON KEVIN WARSH PICK
STEPHEN MIRAN: Chairman designate Warsh has a long history of being an innovative and original thinker on monetary policy. He’s had a number of really important insights over the years, and I’m really excited to see, to see all the good work he’s going to do at the Fed.
MIRAN: Chairman designate Warsh is a, is a fantastic pick. And, you know, he’s just such an innovative thinker in monetary policy. I’m really excited to see all the good work he’s going to do.
MIRAN: I think they’re going to receive him well. I mean, he’s a well-respected guy. He’s been at the Fed before. He was a governor, he was a governor at the Fed under the Bernanke Fed. He’s had a long history of convincing people about his arguments. And so, I think as a result, he’s going to be treated with a lot of respect. And, you know, I think people are going to find him very persuasive because at the end of the day, I think a lot of his views are really right.
MIRAN ON NEXT MEETING ATTENDANCE
SARA EISEN: Do you expect to be there for the next meeting, which is the March meeting?
MIRAN: You know, I couldn’t tell you. It will depend on the Senate timeline. But, you know, we sort of see how long these confirmations take. And so, you know, if the confirmation takes more than a, more than six weeks, then yeah, I would be there at the next meeting.
MIRAN ON FAKE INFLATION
MIRAN: This is a totally weird, anomalous quirk of the measurement process. It’s not real inflation. It’s fake inflation. Once you make these adjustments, you look at market based core X housing. It’s running at 2.2%. That’s within noise of our target. So there is no inflation problem. There is no inflation problem at the moment.
MIRAN ON ECONOMY HAVING LOWER RATES
MIRAN: It’s an economy that can, that can have lower rates because it can have a stronger labor market than it has now. We’ve got, you know, I think the unemployment rate is, is half a point too high or so, right? That’s almost a million people who don’t have jobs who—
MIRAN ON AI AND JOBS
MIRAN: Technologies have already, have always destroyed jobs and they create new jobs too. And it’s our job as a central bank to make sure the economy continues in a place where it can, where those new jobs can be created, not to choke them off before they start to exist and to experience a rising unemployment rate. It has always been the case that new technologies destroy jobs and they create jobs. That is the type of thing that should be accommodated by the central bank.
MIRAN ON BEING PAST PEAK TARIFF UNCERTAINTY
MIRAN: I absolutely think that we are past peak tariff uncertainty. I mean, when you compare the uncertainty that we have now relative to where things were in April and May of last year, it’s night and, there’s, there’s no comparison whatsoever.
MIRAN ON TARIFFS NOT BEING A DRIVER OF INFLATION
EISEN: Do you think tariffs are showing up in the economy anywhere?
MIRAN: So I have no doubt that there are relative price changes happening from tariffs. I still don’t think that tariffs are a very significant drive of overall inflation.
For more information contact:
Stephanie Hirlemann
CNBC
m: 201.397.2838
