Milan: The Federal Reserve should cut interest rates to address risks in the job market.
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TL;DR
Fed Governor Stephen Milan advocates for interest rate cuts, citing cooled inflation and the need to mitigate labor market slowdown risks to avoid future difficulties.
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Federal Reserveinterest rateslabor marketinflationStephen Milan
According to ChainCatcher, citing Jinshi News, Federal Reserve Governor Stephen Milan reiterated on Friday that the Fed should cut interest rates because inflation has cooled and monetary policy needs to offset risks to the labor market. Milan stated that the labor market is slowing, and if it continues in this direction without adequate policy adjustments, the Fed will face difficulties by 2027. He is one of the most vocal supporters of rate cuts within the Fed, having voted against a 50-basis-point cut at last week's Fed meeting.