Federal Reserve Board member Milan continues to strongly advocate a "dovish tone" and is willing to accept a 25 basis point rate cut in December.

On Monday, Federal Reserve Board Governor Miller once again pointed out that if the economic outlook does not show significant changes, he may support a 25 basis point rate cut at the December meeting, but still believes that the rationale for a 50 basis point rate cut is more substantial. A report on the Zhitong Finance and Economics app last week pointed out that Miller stated that the continued growth of stablecoins could significantly lower the "neutral interest rate" in the future. This change implies that the Fed's policy rate should also be adjusted accordingly, otherwise it will create contractionary pressure on the economy.