Federal Reserve Board Governor Milan: Interest rates should be adjusted to near neutral levels.

Federal Reserve Governor Stephen Miller reiterated that he believes monetary policy is overly restrictive and that officials should adjust interest rates to a level close to neutral, neither slowing down nor stimulating the economy. Miller said on Thursday local time, "I think we have a responsibility to adjust policy to a more neutral level so that it no longer imposes such a large constraint on the economy." Miller made these remarks while attending an event in New York hosted by the US Investment Committee. Miller had previously stated that he believed a rate cut would be appropriate at the next policy meeting on December 9-10.