Federal Reserve Governor Milan: About one percentage point of rate cuts is needed this year.

Federal Reserve Board member Milan stated on February 26 that it is expected that interest rates will need to be cut by about one percentage point (that is, 100 basis points) this year. He believes that excessive regulation will damage banks’ ability to create credit, while monetary policy can effectively offset the impact caused by credit card limits. In addition, Milan maintains a cautious attitude towards the outlook of the labor market, believing that it is still too early to make an overall optimistic assessment.

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