Federal Reserve Official Advocates for Interest Rate Cuts Amid Cooling Inflation

According to Odaily, Federal Reserve Governor Stephen Milan reiterated on Friday that the central bank should lower interest rates due to cooling inflation and the need to mitigate risks in the labor market. Milan noted that the job market is slowing down and warned that if this trend continues without adequate policy adjustments, the U.S. could face challenges by 2027. Milan is one of the most vocal proponents of rate cuts within the Federal Reserve. During last week's meeting, he voted against the majority, advocating for a 50 basis point cut, while most colleagues favored a smaller 25 basis point reduction. His term at the Federal Reserve will conclude on January 31.