Analysts: Milan joining the Federal Reserve will put more pressure on Powell to cut interest rates

Jay Hatfield, chief executive of Infrastructure Capital Management in New York, pointed out that Milan's appointment as an interim governor of the Federal Reserve is somewhat unusual because he was chairperson of the President's Council of Economic Advisers and has made some controversial, even unjustifiable remarks, such as forcing people to buy Treasury bonds. But I don't think that will affect his role as a Fed governor. The position is not so ideal and a short-term governor is not a particularly attractive opportunity. The decision is quite pragmatic because it is difficult to poach people from the private sector for such a short term. The focus is still on the nomination of the Federal Reserve chairperson, but the addition of Milan will put more pressure on Powell to cut interest rates.