The Federal Reserve Board of Governors member Milan: It is possible to consecutively cut interest rates by 50 basis points in a very short time.

On September 25, Jin10 reported that Federal Reserve Board member Mian stated that if interest rates are not quickly dropped, the Fed will face the risk of economic damage. He believes that the Fed's current policy interest rate is between 4% and 4.25%, which is highly restrictive and far above his estimate of the so-called “neutral” level. Mian said, “That’s why it’s so important to start adjusting rates quicker rather than slower.” “When monetary policy is in a restrictive position, the economy is more susceptible to downside shocks. In my view, there’s really no need to take that risk.” He said, “My point is that we could drop interest rates by 50 basis points consecutively in a very short period and then readjust monetary policy, and once we reach our target, we would act more cautiously.”