Milan: Can consecutively cut interest rates by 50 basis points in a very short time.

On September 25, The Federal Reserve Board of Governors member Milan stated that if interest rates are not dropped quickly, the Fed will face the risk of economic damage. He believes that the current policy interest rate of the Fed is between 4% and 4.25%, which is highly restrictive and well above his estimate of the so-called "neutral" level. Milan said, "That is why it is so important to start adjusting the interest rates faster rather than slower." "When monetary policy is in a restrictive position, the economy is more susceptible to downward shocks. In my view, there is really no need to take that risk." He stated, "My point is that we can drop interest rates by 50 basis points consecutively in a very short period of time, and then readjust monetary policy, and once we reach our target, we will act more cautiously." ( Jin10 )