According to BlockBeats, Federal Reserve Governor Milan stated that the current monetary policy is deeply entrenched in a restrictive phase, with a focus on bringing the inflation rate back to 2%. Milan noted that the appropriate federal funds rate should be in the mid-range of 2%, which is nearly two percentage points lower than the current level. The existing policy is described as 'very tight,' posing risks to the Federal Reserve's employment objectives. While the Taylor Rule is useful in assessing the appropriate level for the federal funds rate, Milan emphasized that he does not adhere to these rules blindly.