美联储“鸽派哨兵”米兰：就业强劲不碍降息，“去监管”成关键推手

Core Viewpoint - The unexpected strength of January's employment data does not imply that policymakers should pause further interest rate cuts, according to Federal Reserve Governor Stephen Milan [1][2] Group 1: Economic Policy and Interest Rates - Milan advocates for continued interest rate cuts, linking monetary policy to government supply-side reforms, which he believes will enhance the potential growth rate of the U.S. economy and help reduce inflationary pressures [1] - He argues that if the Federal Reserve does not lower policy rates accordingly, it could lead to a tighter financial environment that negates the economic benefits of deregulation [1] - Milan perceives the current core inflation rate to be around 2.3%, within the Federal Reserve's target range, and expects housing inflation to further slow down, solidifying the downward trend in inflation [1] Group 2: Employment Data and Market Reactions - The latest data shows that the U.S. added 130,000 non-farm jobs in January, the largest increase since April 2025, surpassing expectations of 70,000 [3] - The unemployment rate for January is reported at 4.3%, slightly below the market expectation of 4.4%, marking the lowest level since August 2025 [3] - Following the employment report, short-term interest rate futures declined, with traders now estimating only a 20% chance of a rate cut before April, down from approximately 40% prior to the data release [3]