Federal Reserve's new board member Milan clarifies communication with Trump, emphasizing independence in rate cuts stance

BlockBeats News, September 20th — On Friday, Federal Reserve's newly appointed board member Milan publicly clarified his communication with U.S. President Trump, emphasizing that his voting decision at this week's monetary policy meeting was made independently and was not subject to any political interference. Earlier, the Federal Reserve announced a 25 basis point rate cut, but Milan voted against it in this rate decision, advocating for the rate cut to be expanded to 50 basis points. He explained after the meeting that this decision was based on his independent assessment of the economic situation. Addressing external concerns, Milan stated that prior to the rate decision announcement, he had only had a brief exchange with President Trump once. He revealed: "He (Trump) called me on Tuesday morning just to offer congratulations, and that was it." Milan emphasized that the two parties "never discussed how I should vote, nor did they mention my position on the dot plot in the Fed's economic projections." (FX678)