Miran outlined the reasons why he thinks the Fed's benchmark interest rate is far too high and should be lowered aggressively.

In his first comments since joining the Federal Reserve Board, Stephen Miran sought to emphasize his independence from the White House.

Stephen Miran, who joined the central bank last week, said he believes rates should be around 2.5 percent, or about 2 percentage points lower than they are currently.

Miran outlined the reasons why he thinks the Fed's benchmark interest rate is far too high and should be lowered aggressively.