PANews reported on October 16 that Federal Reserve Board Governor Milan expressed support for a 50 basis point interest rate cut this month, reiterating that trade tensions are creating uncertainty for the economy and increasing downside risks to growth. In an interview on Thursday, Milan said: "If monetary policy remains at its current tight level and the economy suffers a similar shock, this will significantly amplify the negative impact of the shock." He added that he hopes to support a 50 basis point rate cut at the policy meeting on October 28-29, although the committee is more likely to opt for a 25 basis point cut as it did in September. "I think we are likely to see three 25 basis point rate cuts this year," he said. Federal Reserve Chairman Powell has previously hinted that the Fed is planning another 25 basis point rate cut this month, given the potential for a rise in unemployment due to slowing hiring. However, some policymakers still expressed the need for caution, as inflation remains above the 2% target.PANews reported on October 16 that Federal Reserve Board Governor Milan expressed support for a 50 basis point interest rate cut this month, reiterating that trade tensions are creating uncertainty for the economy and increasing downside risks to growth. In an interview on Thursday, Milan said: "If monetary policy remains at its current tight level and the economy suffers a similar shock, this will significantly amplify the negative impact of the shock." He added that he hopes to support a 50 basis point rate cut at the policy meeting on October 28-29, although the committee is more likely to opt for a 25 basis point cut as it did in September. "I think we are likely to see three 25 basis point rate cuts this year," he said. Federal Reserve Chairman Powell has previously hinted that the Fed is planning another 25 basis point rate cut this month, given the potential for a rise in unemployment due to slowing hiring. However, some policymakers still expressed the need for caution, as inflation remains above the 2% target.