Newly confirmed Federal Reserve Governor Stephen Miran on Friday defended his stance on wanting an interest rate cut of 50 points as opposed to 25 points.

"My view is that there's a number of disinflationary forces in the works that are coming into play that will be bringing inflation down in the near term," Miran said during an interview on FOX Business Network's "Kudlow."

"For example, lower immigration. My view is that the supply of housing adjusts only very sluggishly, and if you throw millions of new residents, millions of immigrant residents, into a relatively fixed supply of housing, you get lots of shelter inflation, rents go higher. We've stopped that. The border is closed, and, you know, probably well over a million migrants have gone home in the first half of this year alone.

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