Core Viewpoint - The Federal Reserve Governor, Milan, warns that if the U.S. central bank does not continue to lower interest rates next year, it may increase the risk of the economy falling into recession [1] Group 1: Economic Outlook - Milan indicates that while there is no immediate expectation of an economic downturn, the rising unemployment trend should prompt policymakers to maintain a more dovish stance [1] - Recent employment data suggests that the unemployment rate "may be higher than previously expected," which could drive the Fed's policy towards further easing [1] Group 2: Interest Rate Policy - Since joining the Federal Reserve Board in September, Milan has advocated for more significant rate cuts, with his term ending in January next year [1] - The Fed has cumulatively cut rates by 75 basis points since September, reducing the necessity for a 50 basis point cut in the next meeting, although a final judgment has not been made [1] - The Fed's recent decision to cut rates by 25 basis points reflects internal divisions regarding future policy direction, with most officials expecting only one more cut next year [1] Group 3: Inflation and Labor Market Concerns - Some regional Fed presidents express concerns about inflation remaining nearly one percentage point above the 2% target, while rising unemployment exacerbates worries about a potentially weakening labor market [1] - The Fed faces a complex trade-off between stabilizing growth and controlling inflation due to these conflicting signals [1]
美国经济或面临衰退风险!理事米兰督促美联储采取更“鸽派”立场
Zhi Tong Cai Jing·2025-12-22 14:55