Analyst: Milan's Entry into the Federal Reserve Will Increase Rate Cut Pressure on Powell
According to a report by Jinse Finance, Jay Hatfield, CEO of New York Infrastructure Capital Management, pointed out that it is somewhat unusual for Milan to serve as an interim Federal Reserve governor, as he was previously the chairman of the President's Council of Economic Advisers and has made some controversial and even hard-to-defend statements, such as forcing people to buy government bonds. However, I don't think this will affect his duties as a Fed governor. The position itself is not particularly ideal, and serving as a short-term governor is not an especially attractive opportunity. This decision is quite pragmatic, as it is difficult to recruit someone from the private sector for such a short term. The public's main focus remains on the nomination for Fed chair, but Milan's addition will put more pressure on Powell to cut rates.
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