President Trump’s newly-appointed Federal Reserve Governor Stephen Miran said on Monday that the Federal Reserve’s refusal to cut rates more aggressively poses a risk to America’s job market.

Miran last week voted for a jumbo-size, half-point cut — one day after he left his position as Trump’s economic adviser to become a Fed governor. He was the sole dissenter as 11 of the Fed’s 12 central bankers voted for the regular-size cut including Fed Chairman Jerome Powell.

“It should be clear that my view of appropriate monetary policy diverges from those of other Federal Open Market Committee,” the former Trump economic adviser said, referring to the group of economists that sets the US key borrowing rate.

Miran’s comments came during a speech at the Economic Club of New York in his first public appearance since taking up the post last week.

“I view this policy as very restrictive and I believe it poses material risk to the Fed’s employment mandate, he added.” “I believe the appropriate funds rate is in the mid 2% area, almost two percentage points lower than the current policy,” he added.

The Senate voted 48-47 to confirm Miran’s nomination — with Sen. Lisa Murkowski (R-Alaska) joining all Democrats in voting against Trump’s pick for the central bank.

The president tapped Miran, head of the Council of Economic Advisers (CEA), to replace Adriana Kugler, a Biden appointee who abruptly stepped down last month.

Miran will serve out the rest of Kugler’s term on the board, which ends on Jan. 31, 2026.

His appointment followed a bid by President Trump to fire Fed Governor Lisa Cook last month over allegations that she improperly listed two properties — an Atlanta condo and a Michigan home — as her primary residence in 2021, possibly committing mortgage fraud.

The White House and Federal Reserve Chair Jerome Powell were also at loggerheads this past summer after Congress grilled the Trump-appointed central banker over the $2.5 billion renovation of its downtown DC offices.

Miran’s confirmation and the appeals court ruling came one day before the Fed decided to slash interest rates — including potential changes to interest rates — on Sept. 16 and 17 in Washington, DC.

The president has been aiming to replace members of the independent central bank with individuals more likely to support slashing interest rates.

But officials still appear to be resistant to cutting the key borrowing rate, which further impacts ordinary Americans’ home loan and credit card repayments.

Both St. Louis Fed President Alberto Musalem said in remarks earlier on Monday that lowering inflation should be the top priority for the central bank.

“I supported the 25-basis-point reduction in the FOMC’s policy rate last week as a precautionary move intended to support the labor market at full employment and against further weakening,” Musalem said in remarks at the Brookings Institution in Washington D.C.

“However, I believe there is limited room for easing further without policy becoming overly accommodative, and we should tread cautiously,” he added.

This is a developing story. Check back for more updates.