TechFlow news, November 11 — According to Jinshi Data, Federal Reserve Governor Milan said on Monday that given the softening labor market and declining inflation, the Fed should cut interest rates by 50 basis points in December. He stated that a 25-basis-point reduction would be "the bare minimum" appropriate move. Milan noted: "We’ve received new inflation data that turned out better than expected, meaning it’s reasonable to adopt a more accommodative policy stance compared to the September FOMC meeting, when most policymakers believed we should cumulatively cut rates three times by 25 basis points each by year-end." The Fed has already cut rates by 25 basis points in both September and October. However, Milan emphasized that unemployment is rising, "due to policy being too restrictive. Therefore, we must adjust policy and continue gradually lowering rates to prevent this tightness from placing greater strain on the economy and further pushing up unemployment."
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