Federal Reserve Governor Milan highlighted on December 22, 2025, that recent inflation data reflects an upward bias, particularly in the housing index, due to the government shutdown. He noted that the full-year Consumer Price Index (CPI) was skewed higher, suggesting the Federal Reserve should consider a more dovish monetary policy stance. Milan also addressed the growing interest in Bitcoin as a hedge against inflation, cautioning that without policy adjustments, the risk of a deeper recession could increase. The Federal Reserve anticipates eventual rate cuts as part of broader measures, including efforts to counter the financing of terrorism.