Yes, just recently signed legislation allows you to call yourself a Veteran.

During the December 2016 transition period, President Obama signed H.R. 6416, a bill that says National Guard and Reserve retirees who had zero active duty time are now eligible to be referred to as Veterans.

The bill states:

Any person who is entitled under chapter 1223 of title 10, United States Code, to retired pay for Non-regular service or, but for age, would be entitled under such chapter to retired pay for non-Regular service shall be honored as a veteran but shall not be entitled to any benefit by reason of this honor.

Although the bill does not expand any benefits, it allows men and women who served in the Guard and Reserves to describe themselves as veterans.