鲍威尔放鹰之后，美联储理事米兰“唱反调”：货币政策仍太紧缩 应大幅降息

Core Viewpoint - The Federal Reserve Governor Milan advocates for a significant reduction in interest rates, arguing that current monetary policy remains overly tight and far from neutral levels [1][2]. Group 1: Monetary Policy Stance - Milan believes that the Federal Reserve's current policy is too restrictive and that there is no need to maintain such strict measures given his more optimistic inflation outlook compared to other committee members [1]. - He has repeatedly called for a more accommodative monetary policy, opposing the decision to lower the Fed's policy rate by 25 basis points in September and October, instead advocating for a 50 basis point cut [1]. - Milan emphasizes that the neutral policy rate is significantly lower than the current level and should be achieved through a series of 50 basis point cuts [1]. Group 2: Economic Concerns - Recent signs of tightening in the credit market may indicate that monetary policy is still too restrictive, according to Milan, who notes that seemingly unrelated credit issues can reflect the orientation of monetary policy when they suddenly become apparent [1]. - He warns that maintaining a tight policy stance increases the risk of triggering an economic recession due to the monetary policy itself [2]. Group 3: Federal Reserve's Recent Actions - The Federal Reserve officials have lowered rates by 25 basis points for the second consecutive month, amid concerns over a significant slowdown in U.S. job growth during the summer [1]. - Fed Chair Powell stated that another rate cut in December is not guaranteed, reflecting a cautious approach among policymakers regarding further reductions [1].