Milan: The current Fed policy is "very tight", posing risks to employment.

On September 23, Federal Reserve Board member Milan stated that monetary policy has entered a deeply restrictive territory, committed to bringing inflation back to 2%. He believes that the appropriate federal funds rate is in the mid-range of 2%, nearly two percentage points lower than the current level. The current Federal Reserve policy is "very tight" and poses a risk to the Fed's employment mandate. The Taylor rule helps to assess what level the federal funds rate should be at, but I do not "blindly adhere" to these rules.

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