The Federal Reserve Board of Governors Milan: Recent inflation data has a significant upward bias due to the government shutdown, and recent data should lead in a dovish direction.

2025-12-22 13:40:35

On December 22, Federal Reserve Board of Governors member Milan stated that last week's inflation data showed some anomalies due to the government shutdown, which distorted the housing inflation index to some extent. There are significant upward deviations in the annual CPI, and recent data should push people towards a dovish direction. If we do not adjust our policies, we will face an increasing risk of recession. We believe that the policy interest rate will ultimately be lowered. ( Jin10 )

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