Federal Reserve Governor Stephen Miran on Tuesday called for the central bank to make aggressive interest rate cuts this year.

“I’m probably looking for a little bit more than a point of interest rate cuts over the course of the year,” Miran told FOX Business Network’s Maria Bartiromo on “Mornings with Maria.”

Miran, along with Fed Governor Christopher Waller, was a dissenter at the Federal Open Market Committee’s (FOMC) latest meeting on Jan. 28. In a 10-2 vote, the central bank left rates unchanged at its current range of 3.5% to 3.75% after three successive 25 basis point rate cuts in September, October and December. Miran and Waller were in favor of a quarter-point cut.

Stephen Miran, chairman of the Council of Economic Advisers, following a television interview outside the White House in Washington, DC, US, on Tuesday, June 17, 2025. (Getty Images)

FED HOLDS INTEREST RATES STEADY, PAUSING RATE CUTS AMID ECONOMIC UNCERTAINTY

Miran has been supportive of deeper cuts than the FOMC has favored since he joined the board while taking leave from his role in the Trump administration. His term at the Fed technically expired on Jan. 31, though he may remain in his role as governor until his successor is confirmed.

Waller last dissented from an FOMC decision in July, when the Fed held rates steady and was viewed as a contender for the Fed chair nomination before President Donald Trump nominated former Fed Governor Kevin Warsh to lead the central bank. Warsh may fill the vacancy created by the expiration of Miran’s term.

Kevin Warsh, former governor of the U.S. Federal Reserve, speaks during the American Economic Association (AEA) annual conference in Chicago, Illinois, U.S., on Jan. 6, 2017. (Daniel Acker/Bloomberg via Getty Images)

FED GOVERNOR SAYS CURRENT ECONOMY IS ‘CALLING FOR LARGE INTEREST RATE CUTS’ TO HELP JOB MARKET

Although the market currently views two 25 basis point rate cuts as the most likely outcome this year per the CME FedWach tool, Miran said that he thinks 100 basis points of cuts are needed this year.

“When I look at underlying inflation, I don’t see a lot of strong supply-demand imbalances of the type that monetary policy should respond to. So I think we’re keeping rates too high, mostly because of quirks of how we measure inflation rather than actual price pressures themselves,” he added.

JEROME POWELL OFFERS ADVICE FOR NEXT FED CHAIR, ADDRESSES HIS FUTURE AT CENTRAL BANK

When asked about Atlanta Fed President Raphael Bostic suggesting there may not be a need for interest rate cuts this year, Miran said that the Fed has a “very strong diversity of views.”

Stephen Miran, governor of the Federal Reserve, at the Semafor World Economy Summit during the International Monetary Fund and World Bank Fall meetings in Washington on Oct. 16, 2025. (Pete Kiehart/Bloomberg/Getty Images)

“I think we’re being fooled by quirks of how we calculate inflation rather than actual price pressures in the economy. I think that’s leading us to leave our fed funds target rate too high,” he said. “Everyone’s got their own view. At the end of the day we’re a committee and we take votes. I’m just one member of that committee, but I’ll continue arguing for my view because I think it’s right.”

Miran was asked about Warsh’s nomination to lead the central bank, telling Bartiromo that “I think Kevin Warsh is a fantastic choice for Fed chairman.”

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He went on to say that Warsh is well respected by Wall Street, the investment community and policymakers, and added that “I’m very excited to see the things that he’s going to do with the Federal Reserve.”

Northern mayors have come together in a bid to attract investment to the region

An initiative inspired by the Great North Run that brings together Northern mayors offers a unique opportunity to transform the North’s economy, a new report says. The paper from the IPPR North thinktank comes after the launch of the Great North initiative by North East mayor Kim McGuinness last year, which was backed by most other Northern leaders.

IPPR’s paper says The Great North partnership could help bring in more public and private investment by offering a more obvious pipeline of schemes to invest in to both private developers and public finance institutions (PuFins). Last year some of the country’s largest private providers and insurers launched the Sterling 20 group to invest in infrastructure projects and fast growing businesses in the regions, and IPPR says the group believes that “a shortage of money was not the issue but a pipeline of projects to invest in”.

It recommends that a pan-Northern investment prospectus could attract much-needed funds to the region, while previously competing areas coming together could share risk and reward on major schemes. IPPR has called on the Government to engage with the Great North project to fulfill the North’s potential.

The briefing paper also recommends the establishment of a Northern investment board, and the development of a “pipeline of investible propositions”, particularly in the areas of clean energy, transport, digital technologies and advanced manufacturing.

IPPR highlights strong growth in areas like Greater Manchester and Rotherham, as well as positive recent developments including the AI growth zone in the North East and net zero projects on Teesside. But it says that “regional catch-up in the UK is taking too long and sustained public and private underinvestment is still holding the North back.”

IPPR North director Zoë Billingham said: “A strong North stands together. The deepening and broadening of powers to mayors and strategic authorities gives them the opportunity to work more powerfully together.

“The Great North Partnership builds on years of collaboration through different institutions at the pan northern level and provides a renewed opportunity for collaboration. This must be in partnership with the public finance institutions, particularly the National Wealth Fund, which is set up to help drive regional prosperity”.

Ms McGuinness said: “The Great North is about the North of England seizing its economic and political destiny, to unlock a new generation of prosperity, jobs and opportunity for our people and places.

“We welcome IPPR North’s recommendations on pan-Northern investment and developing a strong pipeline of investible propositions: that’s exactly what we will do, bringing these forward at the Great North Investment Summit to showcase our region on the global stage.

“Now we need Government to match the Great North’s bold ambition to make the North of England a leading investment destination and unlock our massive potential – adding £30bn to the UK economy and creating better living standards for all.”

An investment summit that aims to showcase the North of England on the global stage will be held in May, ahead of the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds. That event attracts investors from around the world and it is hoped the Northern summit will bring in investment to projects in the region.

Disney on Tuesday tapped Josh D’Amaro to succeed veteran CEO Bob Iger, who will retire at the end of the year.

D’Amaro climbed the ranks at the entertainment giant after starting in finance at Disneyland Resort in the late 1990s under Iger. 

Iger announced Tuesday that he will retire from the company at the end of the year, with D’Amaro taking over as CEO effective March 2026. Iger, 74, will retire on Dec. 31, 2026, after having first joined the company in 1996.

D’Amaro will continue to serve in his role as chairman of Disney Parks, Experiences and Products until he becomes CEO.

Josh D’Amaro, chairperson of Walt Disney Parks and Resorts, speaks during Day 2 of the D23 Brazil: A Disney Experience at Transamerica Expo Center on Nov. 9, 2024, in São Paulo, Brazil. (Ricardo Moreira/Getty Images for Disney)

LONGTIME CEO BOB IGER TO RETIRE FROM DISNEY

As chairman, D’Amaro oversees 185,000 cast members, employees and “Imagineers” “who make up the creative engine and long-term growth driver” for Disney, according to his LinkedIn profile. In this role, he also oversees 12 theme parks and 57 resort hotels across six global destinations in the U.S., Europe and Asia, plus a future landmark Disney theme park coming to Abu Dhabi. 

Josh D’Amaro at the SXSW Conference & Festivals in the Austin Convention Center on March 8, 2025, in Austin, Texas. (Adam Kissick/SXSW Conference & Festivals via Getty Images)

In this role, he also leads Disney Signature Experiences, which encompasses family travel and leisure experiences beyond the theme parks and includes Disney Cruise Line, which consists of five ships and two island destinations as well as Disney Vacation Club, Adventures by Disney and Storyliving by Disney. 

DISNEY ELEVATING THEME PARK DINING

He is also responsible for Disney Consumer Products, which includes its global licensing business and the company’s digital games and apps unit, which was highlighted by its partnership with Epic Games.

Bob Iger, chief executive officer of The Walt Disney Co., arrives for the Allen and Co. Media and Technology Conference in Sun Valley, Idaho, on July 8, 2025. (David Paul Morris/Bloomberg via Getty Images)

D’Amaro was tasked with spearheading the company’s strategy to “turbocharge” Disney Experiences, creating experiences for audiences through a 10-year, $60 billion investment in new attractions, lands, hotels, cruise ships and technology. His job also included working with the company’s film and TV studio creative leads, together with Walt Disney Imagineering, to bring Disney’s most popular creative assets to life.

Disney applauded D’Amaro for being an “instrumental” part in expanding Disney’s iconic franchises through the creation of immersive, story-driven experiences such as Star Wars: Galaxy’s Edge, the Marvel-themed Avengers Campus, Mickey and Minnie’s Runaway Railway and World of Frozen, according to his bio page.

DISNEY UNVEILS NEW SHOW IN PARK UNDERGOING MASSIVE TRANSFORMATION

After graduating from Georgetown University with a business degree, D’Amaro began his career at Disneyland Resort in 1998, according to his bio page on Disney’s website. Since then, he has climbed the ranks and held leadership roles across the U.S. and internationally in finance, business strategy, marketing, creative development and operations. A longtime Disney executive, his previous roles include president of Disneyland Resort and president of Walt Disney World Resort.

A statue of Walt Disney and Mickey Mouse stands in a garden in front of Cinderella’s Castle at the Magic Kingdom Park at Walt Disney World on April 3, 2025, in Orlando, Florida.  (Gary Hershorn/Getty Images)

D’Amaro’s work expands beyond Disney. He currently serves on the National Board of Directors for Make-A-Wish America. The non-profit has been a long-time Disney partner that has granted more than 170,000 wishes in the past 45 years.

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D’Amaro is also a member of the United States Travel Association Leadership Roundtable.

Disney shares are down more than 9% year to date.

California voters appear ready to drive the state’s remaining billionaires toward the exit signs — and many say they are fully aware of the potential consequences.

A new survey found that 60% of likely voters back a one-time wealth tax, even as a majority of those same respondents say the move would spark a business exodus and cost local jobs.

The February 2026 Nestpoint survey highlights what it describes as a contradiction, with 52% of respondents saying the tax would likely cost jobs and drive entrepreneurs out of California. Even when presented with a “full battery” of economic risks, support for the wealth tax remained at 54%, according to the survey.

The data also suggests that some Golden State voters prioritize perceived fairness over economic concerns, with 42% expressing worries about potential fallout in Silicon Valley and 48% concerned about long-term revenue instability.

ONE OF AMERICA’S LARGEST UNIONS BACKS MASSIVE CALIFORNIA WEALTH TAX AS BILLIONAIRES BOLT

Another recent survey by the Mellman Group found 48% voter support for the wealth tax, 38% opposition and 14% undecided. However, Nestpoint’s survey reports a larger sample size, which may explain the higher support levels.

Voters cast ballots at a polling station in Rickshaw Bagworks store in San Francisco, California, on Tuesday, March 3, 2020. (Getty Images)

Though the initiative has not yet received the required 875,000 signatures to qualify for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% tax on the net worth of California residents with assets exceeding $1 billion. 

The tax would be due in 2027, and taxpayers could spread payments over five years, with additional costs, according to the California Legislative Analyst’s Office.

If voters approve the measure, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal’s language.

California Gov. Gavin Newsom doubled down on his opposition to the tax last week, warning that the plan could reduce funding for schools, public safety and other core services rather than fix the state’s budget challenges.

“I fear the way this has been drafted,” Newsom said at a Bloomberg News event in San Francisco. “I was burdened by the facts. The fact is, it actually will reduce investments in education. It will reduce investment in teachers and librarians, childcare. It will reduce investments in firefighting and police,” he continued. “The impact of a one-time tax does not solve an ongoing structural challenge that has been exacerbated by the impacts of H.R. 1.”

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Trevor Foreman, an SEIU member and hospital security officer in Sacramento, told Fox News Digital in response: “California’s billionaires pay much lower tax rates than what working families pay out of every paycheck. And soon, massive federal healthcare funding cuts in 2026 will collapse key parts of the California healthcare system.”

“Local hospitals and emergency rooms will shut their doors forever because billionaires insist on paying less than the rest of us,” Foreman claimed. 

In addition, Foreman warned that millions of businesses could face higher health insurance premiums, which he said could lead to layoffs across multiple industries as employers absorb rising coverage costs.

READ MORE FROM FOX BUSINESS

Alysia Steele did not build her career overnight.

It was shaped over decades of showing up, meeting deadlines, and doing the work when no one was watching. Her path moved through newsrooms, classrooms, archives, and communities. At each step, she focused on craft, responsibility, and people.

Today, Steele is recognized as a leader in photojournalism and oral history. Her work preserves stories that might otherwise be lost. It also reflects how long-term careers are built in media and academia.

Early Life and the Discipline That Shaped Her Career

Steele grew up in Harrisburg, Pennsylvania. Raised primarily by her paternal grandparents, they taught her structure and accountability.

“School and grades came first,” she says. “Hard work was a must. Respecting elders was non-negotiable.”

She attended the now defunct Harrisburg Arts Magnet School and focused on photography and visual storytelling. Mornings were spent in college-prep classes at her high school, John Harris High School, and afternoons were dedicated to learning composition, light, and developing film. By her junior year of high school, Steele was already winning state photography awards and earning scholarships.

She also earned a spot at the prestigious Pennsylvania Governor’s School for the Arts, where she studied photography during the summer at Bucknell University as a teenager. Still, her path forward was not smooth.

Education Earned Through Persistence

Steele left college early after a difficult experience at a rural Pennsylvania campus. The environment was isolating, and the experience left a lasting mark.

“I was smart, but scared,” she says. “There was a lot of racial trauma. I wasn’t ready then. I wore a baseball cap that covered my face. Many times I was the only student of color in any given class I enrolled in.”

She had earned an associate degree in photography, where she learned studio, food, event, and portrait photography. Steele worked with formats from 35mm to large-format cameras and spent long hours in darkrooms developing film and printing her own photographs.

She later completed her bachelor’s degree in journalism, returning to the same school she once left. The turnaround was significant.

“I went back to face my fears,” Steele says. “I didn’t want that moment to define me.”

She completed competitive photography internships in several Michigan newsrooms, where speed and accuracy mattered. These roles prepared her for high-pressure environments in larger newsrooms.

Building Authority in Newsrooms

Steele spent years working in daily newspapers. She started as a staff photographer and later moved into picture editing and leadership roles. Her assignments ranged from local features to international reporting.

She was part of The Dallas Morning News photo team that earned the 2006 Pulitzer Prize for Breaking News Photography for its coverage of Hurricane Katrina.

“I was watching the news at the picture desk – I was one of two night photo editors that worked at night, and the storm seemed bigger and indicated it would hit land harder than anticipated on the night I was working, Steele explained. “I called my boss, William Snyder, the director of photography, and advised him I thought we needed to move to New Orleans earlier than we originally planned. He told me to make a decision. So, I did, and called staff to travel to New Orleans. As a result, we captured when the storm hit and its initial impact.”

“In newsrooms, decisions are made fast,” she says. “You learn to trust your judgment and your team.”

She later became deputy director of photography at another major metropolitan paper, the Atlanta Journal-Constitution. In that role, she helped managed staff, hired interns and freelance photographers, and elevated visual standards for the paper.

Leadership, she says, came down to consistency. “You can’t cut corners and expect good results.”

From Journalism to Historical Record

In 2015, Steele published Delta Jewels: In Search of My Grandmother’s Wisdom. The book combined formal portraits with oral histories of elder Black church women across the Mississippi Delta. She traveled 6,000 miles to interview 54 elder women about their life experiences during Jim Crow in Mississippi. It is the only book that highlights a collective of Black women’s living experience in Mississippi, the epicenter for the Civil Rights Movement. Steele preserved stories that were rarely documented.

Activist Gloria Steinem endorsed the book. Best-selling author Roy Blount, Jr., endorsed the book. Civil rights activist Reena Evers, the daughter of Medgar and Myrlie Evers, endorsed the book. Steele went on to complete 96 speaking engagements over six years, including international, national, regional, and local academic conferences, churches, community centers, museums, and universities.

“The women trusted me with their stories,” Steele says. “That responsibility stays with you.”

The book earned a top Humanities award for cultural preservation in Mississippi. It also marked a shift in her career toward long-form historical work.

She later completed a Ph.D. in U.S. History, focusing on the Civil Rights Movement and Black women’s labor. Her dissertation became her second book, Traces of Elaine, which is under contract and scheduled for publication in 2028.

Teaching, Leadership, and Long-Term Impact

Alongside her writing, Steele spent more than a decade teaching journalism, multimedia production, podcasting, and layout and design. She became the first Black tenured professor in her The University of Mississippi’s School of Journalism and New Media’s history in 2020.

“I set my own standards,” she says. “I don’t believe in shortcuts for good work.” It was not the most welcoming environment but Steele focused on her work and setting her goals for excellence.

She also founded a national multimedia workshop, Lens Collective, that brought students from a dozen universities together with working, award-winning photojournalists who served as mentors by volunteering their vacation time for the workshop. Steele and the educator cohorts helped secure stories, while Steele managed funding, balanced budgets, and delivered measurable outcomes to the various deans who sponsored the workshop.

Beyond the classroom, Steele continues to teach community history courses and is co-authoring an oral history book with her husband, Bobby D. Steele, Jr. They have spent years interviewing some of the last generation to handpick cotton in Mississippi. Her husband decided to help co-author the book once Steele’s life was threatened for doing this critical work. Some in the state told her to leave the stories alone, but she is persisting because the work has never been done, and people want to talk to her. Their living experiences and memories deserve to be heard.

Work Ethic Over Recognition

Steele defines success in practical terms.

“Being happy with my career and making my family proud,” she says. “My family taught me to be humble and let my work speak for itself. I live by that example every day. I know who I am.”

She is known for finishing tasks early and managing priorities carefully. “I don’t procrastinate,” Steele adds. “I start a task and finish it.”

Time management, she says, was critical to completing her doctorate while working. “I had to stay organized because my study workload was heavy, as well as my normal professorial duties, and I didn’t want to drop the ball on my studies. Earning that doctorate was critically important for me,” she explained.

A Career Built to Last

Alysia Steele’s career reflects long-term thinking. She built credibility by doing the work, not by chasing attention. Her leadership comes from consistency, discipline, and respect for history.

“What we put into the world is what we get back,” she says. “I have more to share.”

For Steele, that approach has created a career with depth, durability, and impact.

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Top officials from self-driving car companies Waymo and Tesla are headed to the Senate Commerce Committee on Wednesday as lawmakers consider the future of federal regulation in the growing industry. 

“We believe Congress has a once-in-a-generation opportunity to secure American leadership in this industry by creating a national AV legislative framework that sets a high safety standard for this industry,” Waymo Chief Safety Officer Mauricio Peña will say in his written testimony at the hearing. “Greater certainty will unlock even more investment and prevent bad actors from undermining public trust in this novel, life-changing technology.”

The hearing comes at a time when a growing number of cities and states are allowing self-driving technology like Waymo. But skepticism of autonomous vehicles remains amid some highly publicized recent incidents involving Waymos. 

The National Highway Traffic Safety Administration (NHTSA) opened an investigation into Waymo late last year after at least 19 incidents of Waymos driving past stopped school buses in Austin.

WOULD YOU BUY THE WORLD’S FIRST PERSONAL ROBOCAR?

Self-driving car companies like Waymo are going to be in the spotlight before the Senate Commerce Committee on Wednesday. (Smith Collection/Gado/Getty Images)

And last week, a Waymo struck a student in Santa Monica, California.

“We’re doing over 400,000 trips a week, which means that these are edge cases,” Justin Kintz, Waymo’s head of global public policy, told FOX News in an interview. On the Santa Monica incident specifically, Kintz said the result was likely better because a Waymo, instead of a car driven by a person, was involved.

“We immediately identified the pedestrian, began braking immediately. So traveling at 17 mph, the Waymo driver did a hard break and reduced our speed to under six mph before contact was made,” Kintz said. “By contrast, our model showed that an attentive human driver would have been going about 14 mph, which makes a big difference.”

TESLA’S SELF-DRIVING CARS UNDER FIRE AGAIN

Kintz added Waymo is cooperating with the National Transportation Safety Board and the NHTSA as they investigate that crash.

Waymo and Tesla are likely to have a sympathetic ear in Senate Commerce Committee Chairman Ted Cruz, R-Texas. He touted the potential for autonomous vehicles to reduce traffic, cut crashes and help people with disabilities gain independence in a statement ahead of Wednesday’s hearing. But, he said, “A confusing mix of federal and state laws makes it much more difficult to bring safer, more advanced autonomous vehicles to market.”

Cruz added: “This hearing will examine how outdated regulations are holding back lifesaving technology – and what Congress can do to fix it.”

Sen. Ted Cruz has praised self-driving vehicles in the past. (Chip Somodevilla/Getty Images)

Sen. Eric Schmitt, R-Mo., also on the Commerce Committee, was more cautious in an interview with Fox News Monday night. 

“I hear from people back home and they want to understand safety. They want to understand, a lot of sort of the practical questions, understand the technology,” Schmitt said. “There’s privacy issues, of course, that are going to be involved. So we’ll see. It’s an emerging issue.”

Kintz said national safety standards could help Americans adopting self-driving tech feel more confident when they get in one of the cars. He said it would also prevent “a crazy patchwork of regulations, which could really slow the development of the technology.”

ELON MUSK TAKES DIG AT WAYMO AFTER SAN FRANCISCO BLACKOUT

Sen. Eric Schmitt, pictured when he was attorney general of Missouri, expressed caution in an interview with Fox News on Monday night. (Andrew Harrer/Bloomberg / Getty Images)

Peña, Waymo’s chief safety officer, will also warn that “Chinese competitors are scaling rapidly with heavy state support, and – second to Waymo – the largest AV fleets in the world are operated by Chinese AV companies.”

“In the absence of U.S. leadership on a national AV legislative framework, Chinese AV competitors will fill the gap and set the safety and technical standards for the rest of the world,” Peña will add in his prepared testimony. 

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Peña will be joined by Tesla Vice President of Vehicle Engineering Lars Moravy and Autonomous Vehicle Industry Association CEO Jeff Farrah at the witness stand Wednesday.

Fox News Digital’s Bonny Chu contributed to this report.

This article was written by

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