Fed Governor Waller advocates for gradual rate cuts

Federal Reserve Board Governor Waller said officials could gradually ease monetary policy by cutting interest rates by 25 basis points at a time to support the weak labor market; at the same time, Milan continued to advocate for a larger rate cut. Waller said on Thursday: "You don't want to make a mistake, and the way to avoid it is to proceed cautiously - cut by 25 basis points first, observe the results, and then decide what to do next." Milan reiterated the same day that a larger 50 basis point rate cut should be adopted. Trade tensions have increased the downside risks facing the economy, thus requiring more rapid monetary policy easing. "I think we are likely to see three 25 basis point rate cuts this year," Milan said. (Jinshi)