Fed board member Milan once again called for interest rate cuts, stating that he has not yet seen the impact of energy prices pushing up inflation expectations.

Federal Reserve Governor Milan said on Wednesday that current monetary policy is dragging down the economy and that central bank interest rates should not be at this level. Speaking at the 2026 Digital Asset Summit in New York, Milan stated that the current federal funds rate target range of 3.5%-3.75% is roughly one percentage point higher than appropriate level, which is "slightly restrictive, dragging down the economy, and I think this is inconsistent with the macroeconomic background." He also stated that there is currently no evidence to suggest that energy price shocks are pushing up inflation expectations, which makes him confident that actual price pressures will not increase.