Federal Reserve Governor Milan said he expects to cut interest rates by 150 basis points this year to boost the labor market. Describing that monetary policy is restrictive, Milan said that the basic inflation rate is likely to remain around 2.3%, which means there is still room for Fed officials to cut interest rates further. Milan said that the basic inflation rate fluctuates within our target range, which is a good indication of the overall trend of inflation in the medium term. “About 1 million Americans currently have no jobs, but if they are employed, it won't cause unnecessary inflation,” Milan said. He said that it is currently unclear whether he will remain in the Federal Reserve after his term ends. Many Federal Reserve observers expect that Trump will use Milan's current seat to place the next chairman of the board of directors selected by him. However, if Powell leaves the Federal Reserve after his term as chairman ends in May, he may free up another seat.

Federal Reserve Governor Milan said he expects to cut interest rates by 150 basis points this year to boost the labor market. Describing that monetary policy is restrictive, Milan said that the basic inflation rate is likely to remain around 2.3%, which means there is still room for Fed officials to cut interest rates further. Milan said that the basic inflation rate fluctuates within our target range, which is a good indication of the overall trend of inflation in the medium term. “About 1 million Americans currently have no jobs, but if they are employed, it won't cause unnecessary inflation,” Milan said. He said that it is currently unclear whether he will remain in the Federal Reserve after his term ends. Many Federal Reserve observers expect that Trump will use Milan's current seat to place the next chairman of the board of directors selected by him. However, if Powell leaves the Federal Reserve after his term as chairman ends in May, he may free up another seat.