Federal Reserve Governor Milan: A one percentage point rate cut this year would be appropriate.

PANews reported on March 4th that Federal Reserve Governor Milan stated that a one percentage point rate cut this year would be appropriate. He believes a further rate cut at the March meeting would be suitable; the outlook remains unchanged despite the ongoing conflict in Iran. The layoffs at fintech company Block foreshadow potential future developments, but he acknowledged that it is just one company. He believes the Fed should adopt a more accommodative monetary policy to accommodate the employment transformation brought about by artificial intelligence. He does not believe that credit issues require adjustments to monetary policy.