The United States economy may face the risk of recession! Director Milan urges the Federal Reserve to take a more "dovish" stance.

Federal Reserve board member Milan warned that if the US central bank does not continue to cut interest rates next year, it may increase the risk of the economy falling into recession. In an interview on Monday, he stated that although he does not expect the economy to immediately decline in the short term, the trend of rising unemployment should prompt policymakers to continue adopting a more dovish stance. Milan pointed out that recent employment data has shown that the unemployment rate "may be higher than market expectations", and such signals are enough to push Federal Reserve policy further in the direction of easing. Since joining the Federal Reserve Board in September, Milan has consistently advocated for larger interest rate cuts. His term will end in January next year. When discussing the pace of future policies, Milan stated that since September, the Federal Reserve has cumulatively cut rates by 75 basis points, so the necessity of a one-time 50 basis point rate cut at the next meeting has decreased, but he has not made a final decision yet. "Policies may shift from large adjustments to gradually entering a more finely tuned adjustment phase, but whether we have reached that stage yet, we need to observe the effects of several more rate cuts." This month, the Federal Reserve cut rates by 25 basis points again, but there is a clear division within the Fed on the future path. Most officials expect only one more rate cut next year, and recent public speeches from several officials also signal a wait-and-see approach in the short term, waiting for a clearer economic outlook. At the same time, some regional Fed presidents have expressed concerns about inflation being still slightly above the 2% target, while the upward trend in unemployment has increased market concerns about the labor market weakening rapidly, making the Federal Reserve face a more complex balance between maintaining growth and controlling inflation.