Federal Reserve Governor Mester: Current policy is too tight, calls for interest rate cuts

According to Jin Ten, Federal Reserve Governor Mylan reiterated on Wednesday that he expects inflation to decline and called for lower interest rates. Mylan pointed out that monetary policy adjustments must be in place to eliminate some economic downside risks. He voted against the last two interest rate decision meetings, advocating for a 50 basis point cut instead of the 25 basis point cut that was ultimately implemented. Mylan expects to return to his position as an economic advisor at the White House after his term ends in January next year and warned against interpreting inflation data "on the surface."