PANews reported on October 15th that Federal Reserve Governor Milan said on Wednesday that recent trade tensions have heightened uncertainty about the economic growth outlook, making it even more important for policymakers to cut interest rates quickly. "Downside risks are greater now than they were a week ago, and I think we have a responsibility to reflect that in our policy," Milan said at a CNBC event. He noted that trade policy uncertainty presents "new tail risks." Milan added: "I wouldn't say I would prefer interest rates to be lower now than they were a week or a month ago. However, as the balance of risks shifts, I think it's even more urgent to get policy back to a more neutral position as quickly as possible." Milan previously expressed hope for another 1.25 percentage point cut in the benchmark interest rate by the end of the year. The latest median forecast from 19 Fed officials suggests two more 25 basis point rate cuts in 2025. Milan said on Wednesday that two more rate cuts this year "look realistic."PANews reported on October 15th that Federal Reserve Governor Milan said on Wednesday that recent trade tensions have heightened uncertainty about the economic growth outlook, making it even more important for policymakers to cut interest rates quickly. "Downside risks are greater now than they were a week ago, and I think we have a responsibility to reflect that in our policy," Milan said at a CNBC event. He noted that trade policy uncertainty presents "new tail risks." Milan added: "I wouldn't say I would prefer interest rates to be lower now than they were a week or a month ago. However, as the balance of risks shifts, I think it's even more urgent to get policy back to a more neutral position as quickly as possible." Milan previously expressed hope for another 1.25 percentage point cut in the benchmark interest rate by the end of the year. The latest median forecast from 19 Fed officials suggests two more 25 basis point rate cuts in 2025. Milan said on Wednesday that two more rate cuts this year "look realistic."
Fed's Milan cites heightened trade uncertainty, calls for faster rate cuts
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PANews reported on October 15th that Federal Reserve Governor Milan said on Wednesday that recent trade tensions have heightened uncertainty about the economic growth outlook, making it even more important for policymakers to cut interest rates quickly. "Downside risks are greater now than they were a week ago, and I think we have a responsibility to reflect that in our policy," Milan said at a CNBC event. He noted that trade policy uncertainty presents "new tail risks." Milan added: "I wouldn't say I would prefer interest rates to be lower now than they were a week or a month ago. However, as the balance of risks shifts, I think it's even more urgent to get policy back to a more neutral position as quickly as possible." Milan previously expressed hope for another 1.25 percentage point cut in the benchmark interest rate by the end of the year. The latest median forecast from 19 Fed officials suggests two more 25 basis point rate cuts in 2025. Milan said on Wednesday that two more rate cuts this year "look realistic."
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