New Federal Reserve Governor Milan Clarifies Communication with Trump, Emphasizes Independence in Rate Cut Stance

Jinse Finance reported that the new Federal Reserve Governor, Stephen Milan, made a public clarification on Friday regarding 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. Previously, the Federal Reserve announced a 25 basis point rate cut, but Milan cast a dissenting vote 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 judgment of the economic situation. In response to public concern, Milan stated that prior to the announcement of this rate decision, he had only a brief exchange with President Trump. He revealed, "He (Trump) called me on Tuesday morning just to offer congratulations, that's all." Milan emphasized that the two "never discussed how I should vote, nor did they mention my position on the 'dot plot' in the Federal Reserve's Summary of Economic Projections."