Milan: The Federal Reserve should cut interest rates to address employment market risks

According to Jinshi reports, Federal Reserve Governor Stephen Milan reiterated on Friday that the Federal Reserve should cut interest rates due to cooling inflation and the need for monetary policy to offset risks in the labor market. Milan stated that the labor market is slowing down, and if this trend continues without adequate policy adjustments, it will face difficulties by 2027. He is one of the most staunch advocates for interest rate cuts within the Federal Reserve, having voted against the recent Fed meeting's decision, advocating for a 50 basis point rate cut.