Milan: Expecting a 150 basis point rate cut this year to boost the labor market

According to Jin Ten, Federal Reserve Governor Milan stated that he expects a 150 basis point rate cut this year to boost the labor market. Milan pointed out that the core inflation rate may remain around 2.3%, which means that Federal Reserve officials still have room for further rate cuts. He mentioned that about 1 million Americans are currently unemployed, but if they were employed, it would not trigger unnecessary inflation.