Fed Governor Milan Cautions Against Overinterpreting Jobs Report, Supports Rate Cut to Neutral Level

Published: Mar 7, 2026 23:58

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US Fed Governor Milan noted that he was not inclined to overinterpret a single month’s employment report. He mentioned that an oil price shock might bring downward pressure to core inflation by suppressing demand. He also believed that the neutral rate was roughly in the 2.5%–2.75% range, and that the US Fed should cut interest rates to the neutral level and then reassess the situation. In addition, he stated clearly that if the US Fed did not decide on an interest rate cut this month, he would vote against it.

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