Fed's Milan cites heightened trade uncertainty, calls for faster rate cuts

"The downside risks are greater now than they were a week ago, and I think we have a responsibility to reflect that in policy," Milan said at a CNBC event, noting that trade policy uncertainty has created "new tail risks." Milan added: "I wouldn't say I want interest rates any lower now than I did a week or a month ago. However, as the balance of risks has changed, I think it's become more urgent to get policy back to a more neutral position as quickly as possible."