Federal Reserve Governor Milan stated that current policy is too tight and reiterated her call for interest rate cuts.

Odaily Planet Daily reports that Federal Reserve Governor Mirren reiterated on Wednesday that he expects inflation to decline and reiterated his call for lower interest rates. Mirren said, "I think we need to get monetary policy in place—to get it off the overly tight track, thereby eliminating some of the downside risks to the economy." Mirren expects to return to his position as a White House economic advisor after his term as a Federal Reserve governor ends in January. He voted against a 50-basis-point rate cut at the Fed's two most recent interest rate decision meetings, instead of the 25-basis-point cut ultimately implemented by the Fed. Mirren also warned against interpreting inflation data "on the surface." (Jinshi)