Federal Reserve Governor Milan indicated that the Fed could reduce interest rates by one percentage point over the next year, as inflation expectations remain stable despite rising oil prices. Milan emphasized that there is no current indication that other Fed officials will alter their policy stance due to oil price fluctuations. He also noted that inflation is expected to align with target levels within a year. Additionally, Milan highlighted the importance of not allowing central bank policies to impede job creation through artificial intelligence and expressed a desire to reduce the Fed's large balance sheet.