The Senate is expected to advance Milan's nomination for a Fed governor on Wednesday, and he is expected to appear on this month's interest rate list
2025-09-08 19:59:14
The US Senate banking committee is due to vote on Milan's nomination on September 10 local time, which could give it full Senate confirmation ahead of the Fed's decision on interest rates in September. The Fed will hold a meeting on September 16 and 17, which is expected to cut interest rates for the first time since December. Mr. Milan won the support of Republicans last week with a series of private and public assurances that he would support the Fed's independence on monetary policy rather than carry out Mr. Trump's orders. Barring any surprises, the committee is expected to pass the nomination to take the matter to the full Senate for a vote. After that, Senate Republican leaders still need a few days to push through the procedural votes necessary to clear hurdles and complete final confirmation. At the full vote stage, only four Republican senators can veto the nomination. Six months ago, all Republican senators voted for Milan to chair the White House Council of Economic Advisers.
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