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[Federal Reserve Governor Milan: Interest Rates Should Be Cut to Address Labor Market Risks] Federal Reserve Governor Stephen Milan reiterated on Friday that the Fed should cut interest rates, as inflation has cooled and monetary policy needs to counteract risks in the labor market. Milan stated that the labor market is slowing down, and if policies are not adequately adjusted, it will face difficulties by 2027. At last week's Federal Reserve meeting, Milan cast a dissenting vote, advocating for a 50 basis point rate cut, while most officials favored a 25 basis point cut. Milan's term at the Federal Reserve will end on January 31.