Federal Reserve Governor Milan reaffirms that interest rates should be cut to address job market risks
2025-12-19 22:37:47
Stephen Millan, the Fed governor, on Friday reiterated that the central bank should cut interest rates as inflation has cooled and monetary policy needs to offset labour market risks. Mr. Millan said the labour market was slowing and that "if we continue in this direction and we fail to adjust policy sufficiently to contain it, we will be in trouble by 2027". Mr. Millan is one of the strongest supporters of a rate cut at the Fed. At last week's meeting, he voted against a 50 basis point cut, while most of his colleagues preferred a smaller 25 basis point cut. His term at the Fed ends on January 31.
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