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The Federal Reserve Board of Governors member Milan: The current economic situation calls for a significant interest rate cut.
Odaily News The Federal Reserve Board of Governors member Milan stated that he hopes the employment data can persuade others in the Fed to support a rate cut, and that the rise in unemployment is due to overly tight monetary policy. He does not believe there is an inflation problem, although he is concerned about the rising cost of living, but the Fed's policy needs to look forward. He also believes that the Fed will soon reach a neutral interest rate. However, some analysts point out that given that Milan was appointed precisely because of Trump's (rate cut) considerations, his continued calls for significant rate cuts are not surprising. The market has naturally ignored his comments, thus his words have not truly had a substantive impact.