Federal Reserve Governor Milan: Can cut interest rates by 50 basis points in a very short period of time.

Fed governor Milan said that if interest rates are not lowered quickly, the Fed will face the risk of economic damage. He believes that the Fed's current policy rate is highly restrictive, ranging from 4% to 4.25%, which is much higher than his estimate of the so-called "neutral" level. Milan said, "This is why it is so important to start adjusting interest rates faster rather than slower." "When monetary policy is restrictive, the economy is more susceptible to downside shocks. In my view, there is really no need to take this risk." He said, "My point of view is that we can cut rates continuously by 50 basis points in a very short time, then readjust monetary policy, and once we reach our target, we will act more cautiously."